Using the following year-end information for Calvins Clothing, calculate the current ratio and acid-test ratio for the business:

Cash	$ 51,680
Short-term investments	8,000
Accounts receivable	46,000
Inventory	150,000
Prepaid expenses	8,520
Accounts payable	102,000
Other current payables	30,100

rev: 07_10_2018_QC_CS-131052

• 1.00 and 1.25

• .50 and 1.25

• 2.50 and 1.25

• 2.00 and 0.80

• 1.00 and 0.80