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Compute the quick acid-test ratio

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Reference no: EM132874700

Problem - Upton Company has current assets equal to $3,600,000. Of these, $1,100,000 is cash, $1,300,000 is accounts receivable, and the remainder is inventories. Current liabilities total $3,000,000.

Required -

1. Compute the current ratio.

2. Compute the quick (acid-test) ratio.

Reference no: EM132874700

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