Selected financial statement data for Freeman Company are presented below. $\begin{array}{lr}&12/31/17\
\text { Cash } & \$ 10,000 \
\text { Short-term investments } & 20,000 \
\text { Accounts receivable } & 60,000 \
\text { Inventories } & 75,000 \
\text { Total current liabilities } & 100,000
\end{array}$ Instructions
Compute the following ratios at December 31 2017:
(a) Current.
(b) Acid-test.

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The Answer of Selected financial statement data for Freeman Company are presented below. $\begin{array}{lr}&12/31/17\
\text { Cash } & \$ 10,000 \
\text { Short-term investments } & 20,000 \
\text { Accounts receivable } & 60,000 \
\text { Inventories } & 75,000 \
\text { Total current liabilities } & 100,000
\end{array}$ Instructions
Compute the following ratios at December 31 2017:
(a) Current.
(b) Acid-test.

Selected Financial Statement Data for Freeman Company Are Presented Below