Fantastic Foods has total assets of $150,000, current assets of $80,000 (current assets includes $30,000 of cash,
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Fantastic Foods has total assets of $150,000, current assets of $80,000 (current assets includes $30,000 of cash, $10,000 of short term investments, $20,000 of accounts receivable, and $20,000 of inventory), total liabilities of $120,000, and current liabilities of $70,000. What is Fantastic Foods’ current ratio?
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