Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio: Cash$48,000Short-term investments 12,000Accounts receivable 45,000Inventory 225,000Prepaid expenses 12,500Accounts payable 86,500Other current payables 22,000
A. 1.09 and 4.77
B. 3.04 and 1.21
C. 3.16 and 1.21
D. 3.16 and 0.97
E. 3.01 and 1.21
Answer: D
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