Question: Brief Exercise 172 Selected financial statement data for Freeman Company are presented below. 12/31/17 Cash $ 10,000 Short-term investments 20,000 Accounts receivable 60,000 Inventories 75,000

Brief Exercise 172

Selected financial statement data for Freeman Company are presented below.

12/31/17
Cash $ 10,000
Short-term investments 20,000
Accounts receivable 60,000
Inventories 75,000
Total current liabilities 100,000

Compute the current ratio at December 31, 2017. (Round answer to 2 decimal places, e.g. 2.15:1)

Current ratio __:1

Compute the acid-test ratio at December 31, 2017. (Round answer to 2 decimal places, e.g. 2.15:1)

Acid-test ratio __:1

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