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Given: Total current assets (CA), $14,000; accounts receivable (AR), $5,500; total cur- rent liabilities (CL),...

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Finance

Given: Total current assets (CA), $14,000; accounts receivable (AR), $5,500; total cur- rent liabilities (CL), $9,000; inventory (Inv), $3,900; net sales, $36,500; total assets, $32,000; net income (NI), $8,000. Calculate:

a. Current ratio.

b. Acid test.

c. Average days collection.

d. Profit margin on sales (round to the nearest hundredth percent).

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