Turbo Start (Problem 18-17) has current assets totaling $1.5 million (this includes $500,000 in current inventory) and
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Turbo Start (Problem 18-17) has current assets totaling $1.5 million (this includes $500,000 in current inventory) and current liabilities totaling $50,000. Find the current ratio and acid-test ratio. Are the ratios at desirable levels? Explain.
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