Magee Company reports the following in its current year financial statements: Current assets Current liabilities....
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Magee Company reports the following in its current year financial statements: Current assets Current liabilities. Cash and cash equivalents Short-term investments Accounts receivable. Income before interest expense and income taxes Interest expense. $120,000 80,000 10,000 25,000 30,000 20,000 4,000 Compute the following ratios for Magee Company: a. Current ratio b. Quick ratio C. Times-interest-earned ratio
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