Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio: Cash$70,200?Short-term investments12,800?Accounts receivable49,500?Inventory242,000?Prepaid expenses18,000?Accounts payable100,500?Other current payables28,000?
A. 2.91 and 0.97.
B. 3.05 and 0.33.
C. 0.97 and 3.05.
D. 3.05 and 1.03.
E. 1.17 and 3.91.
Answer: D
Business
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