The current ratio should be interpreted by considering all but O general economic and industry conditions. other firms in the same or related industry. O other special financial information. O other firms in unrelated industries. Sheffield Industries has the following current assets and liabilities on the company's balance sheet: Cash $15000; Accounts Receivable $6800; Inventory $55000; Prepaid Rent $3400; Accounts Payable $17000; Long-Term Notes Payable $19000; and Unearned Revenue $3000. The company's acid-test ratio would be O 0.42:1 O 1.41:1 1.09:1 O 2.06:1 Using a perpetual inventory system, if Ayayai's accounting records show an ending inventory balance of $26300 and a physical count shows a balance of $24300, it is necessary to O debit its inventory records. O credit Cost of Goods Sold. O remove the nonexistent inventory from its records. purchase additional inventory