Dennisport Corporation has an acid-test ratio of 2.9. It has current liabilities of $59,000 and...
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Accounting
Dennisport Corporation has an acid-test ratio of 2.9. It has current liabilities of $59,000 and noncurrent assets of $90,000. The corporation's current assets consist of cash, marketable securities, accounts receivable, prepaid expenses, and inventory; it has no short-term notes receivable. If Dennisport's current ratio is 3.7, its inventory and prepaid expenses must be:
$89,900
$114,700
$128,300
$47,200
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