Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio...
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Accounting
Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash $ 52,000 Short-term investments 12,000 Accounts receivable 54,000 Inventory 325,000 Prepaid expenses 17,500 Accounts payable 106,500 Other current payables 25,000
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