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Camaro GTO Torino Cash   $ 2,550   $ 260   $ 1,300 Short-term investments     0     0     700 Current receivables     290     540     650 Inventory     2,250     2,080     3,200 Prepaid expenses     400     700     900 Total current assets   $ 5,490   $ 3,580   $ 6,750 Current liabilities   $ 2,280   $ 1,350   $ 3,700   Compute the acid-test ratio for each of the following separate cases. Camaro- GTO- Torino-

Camaro GTO Torino Cash   $ 2,550   $ 260   $ 1,300 Short-term investments     0     0     700 Current receivables     290     540     650 Inventory     2,250     2,080     3,200 Prepaid expenses     400     700     900 Total current assets   $ 5,490   $ 3,580   $ 6,750 Current liabilities   $ 2,280   $ 1,350   $ 3,700   Compute the acid-test ratio for each of the following separate cases. Camaro- GTO- Torino-

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  Camaro GTO Torino
Cash   $ 2,550   $ 260   $ 1,300
Short-term investments     0     0     700
Current receivables     290     540     650
Inventory     2,250     2,080     3,200
Prepaid expenses     400     700     900
Total current assets   $ 5,490   $ 3,580   $ 6,750
Current liabilities   $ 2,280   $ 1,350   $ 3,700
 


Compute the acid-test ratio for each of the following separate cases.

Camaro-

GTO-

Torino-

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