Wentwood Clothing Store reported the following selected items at June 30, 2019 (previous year - 2018 - amounts are also given as needed):
Compute Wentwood's acid-test ratio on June 30, 2019. Show your computations. Round the answer to 2 decimal places.
Acid-Test Ratio: (Cash including cash equivalents + Short-term investments + Net current receivables) / Total current liabilities
(80,000 + 40,000 + 45,000) / (55,000 + 130,000) = 165,000 / 185,000 = 0.89
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