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Water Works, Inc. has a current ratio of 1.33, current liabilities of $540,000, and inventory of...

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Finance

Water Works, Inc. has a current ratio of 1.33, currentliabilities of $540,000, and inventory of $400,000. What is WaterWorks, Inc.'s quick ratio?

a

1.11

b

0.86

c

1.90

d

0.59

Answer & Explanation Solved by verified expert
3.8 Ratings (510 Votes)
Solution We know that the formula for calculating the Current ratio is Current Ratio Current Assets Current Liabilities As per the information given in the question    See Answer
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Transcribed Image Text

Water Works, Inc. has a current ratio of 1.33, currentliabilities of $540,000, and inventory of $400,000. What is WaterWorks, Inc.'s quick ratio?a1.11b0.86c1.90d0.59

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