Question: 12. Please calculate Gross Margin and Acid (Quick) ratios, based on the following facts: Ending Current Liabilities = $700,000; Cost of Goods Sold = $395,000;

12. Please calculate "Gross Margin" and "Acid (Quick)" ratios, based on the following facts: Ending Current Liabilities = $700,000; Cost of Goods Sold = $395,000; Ending Cash = $100,000; Ending Cash Equivalents + S.T. Investments = $160,000; Ending Net Current Accounts Receivable = $250,000; and Net Sales = $980,000

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