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Question(s) / Instruction(s):

Key balance sheet accounts: Balances are representative of average balances.

Cash:                                                               $ 144,000

A/R:                                                                 $ 260,000

Inventory:                                                          $ 800,000

Total Assets:                                                      $2,000,000

A/P:                                                                 $1,000,000

Unearned Revenue                                           $200,000

Accrued Expenses                                          $400,000

Key income statement accounts:

Sales:                                                                   $2,340,000

Cost of Goods Sold:                                            $1,620,000

Operating Expenses:                                            $ 373,000

Key statement of cash flow amounts:

Cash Received from Customers:                       $ 1,272,000

Cash Flow from Operating Activities:                  $ 245,000

Interest Paid:                                                        $ 200,000

Cost to Replace Old Equipment:                            $ 200,000

What is the Cash to Current Liabilities ratio?

a)            9%

b)            10.2%

c)            12%

d)            14.4%

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