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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 $ 54,430 11,500 53,000 220,000 9,660 105,500 31,200 Multiple Choice 1.55 and 1.00 0.39 and 1.15 2.93 and 1.15 2.55 and 0.87 1.55 and 0.87

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