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Given the following information: Cash 29,000, Accounts Receivable $114,000, Inventory $113,000, Prepaid Expenses $6,000, Total capital assets $525,000, Total current liabilities $142,000, Long-term debt $289,000, Total shareholders' equity $356,000' Net sales $858,000, Cost of goods sold $513,000, Gross Margin $345,000, Net income $48,000. The acid test ratio is:

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Given the following information: Cash 29,000, Accounts Receivable $114,000, Inventory $113,000, Prepaid Expenses $6,000, Total capital assets $525,000, Total current liabilities $142,000, Long-term debt $289,000, Total shareholders' equity $356,000' Net sales $858,000, Cost of goods sold $513,000, Gross Margin $345,000, Net income $48,000. The acid test ratio is:






 
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