Question: Current Attempt in Selected condensed data taken from a recent balance sheet of Cullumber Inc. are as follows: CULLUMBER INC. Balance Sheet (partial) $3,922,000 Cash

sheet of Cullumber Inc. are as follows: CULLUMBER INC. Balance Sheet (partial)

Current Attempt in Selected condensed data taken from a recent balance sheet of Cullumber Inc. are as follows: CULLUMBER INC. Balance Sheet (partial) $3,922,000 Cash Short-term investments Accounts receivable 4,972,000 6,440,000 ho Inventory 20,805,000 Prepaid assets 563,000 Total current assets $36,702,000 Total current liabilities $17,784,000 (a) Calculate the (1) current ratio and (2) acid-test ratio. (Round current ratio to 1 decimal place, e... 527 and acid-test ratio to 2 decimal places, e-8.52.75.) 1. Current ratio 2. Acid-test ratio

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