Exercise 4-21 (Static) Computing and analyzing the acid-test ratio LO A1 Camaro Cash $ 2,000 Short-term investments Current receivables Inventory Prepaid expenses 58 350 2,600 200 GTO Torino $ 110 $ 1,000 580 700 4,230 900 470 2,420 500 $ 7,410 Total current assets $ 5,200 $ 3,500 Current liabilities $ 2,000 $ 1,000 $ 3,800 a. Compute the acid-test ratio for each of the separate cases above. b. Which company is in the best position to meet short-term obligations? Complete this question by entering your answers in the tabs below. Required A Required B Compute the acid-test ratio for each of the separate cases above. Camaro GTO Torino Numerator: Acid-Test Ratio Denominator: Acid-Test Ratio = Acid-test ratio NO to 1 to 1 to 1 7 Required A Required B> Exercise 4-21 (Static) Computing and analyzing the acid-test ratio LO A1 Canaro GTO Torino Cash $2,000 $110 $1,000 Short-term investments 58 588 Current receivables Inventory Prepaid expenses Total current assets 350 2,608 200 478 2,420 700 4,230 508 gee $ 5,280 $ 3,508 $ 7,410 Current liabilities $ 2,000 $1,000 $3,800 a. Compute the acid-test ratio for each of the separate cases above. b. Which company is in the best position to meet short-term obligations? Complete this question by entering your answers in the tabs below. Required A Required B Which company is in the best position to meet short-term obligations? Which company is in the best position to meet short-term obligations?