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Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash Short-term investments Accounts receivable Inventory Prepaid

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Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash Short-term investments Accounts receivable Inventory Prepaid expenses Accounts payable Other current payables $ 57,130 13,000 56,000 250,000 5,020 107,000 31,600 O 1.75 and 1.00 O 0.36 and 1.10 O 3.02 and 1.10 O 2.75 and 0.91 O 1.75 and 0.91

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