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Using the following year-end information for Calvins Clothing, calculate the current ratio and acid-test ratio for the business: Cash $ 59,140 Short-term investments 15,000 Accounts
Using the following year-end information for Calvins Clothing, calculate the current ratio and acid-test ratio for the business:
Cash | $ | 59,140 |
Short-term investments | 15,000 | |
Accounts receivable | 60,000 | |
Inventory | 290,000 | |
Prepaid expenses | 6,520 | |
Accounts payable | 109,000 | |
Other current payables | 32,200 | |
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