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Using the following year-end information for Calvin’s Clothing, calculate the current ratio and acid-test ratio for...

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

Cash $ 60,840
Short-term investments 16,500
Accounts receivable 63,000
Inventory 320,000
Prepaid expenses 12,220
Accounts payable 110,500
Other current payables 32,700
Math   Statistics-And-Probability   
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