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Question
Core Company had the following assets and liabilities as of December 31:
| Assets | |
| Cash | $58,000 |
| Accounts receivable | 25,000 |
| Inventory | 20,000 |
| Equipment | 50,000 |
| Liabilities | |
| Current portion of long-term debt | $20,000 |
| Accounts payable | 12,000 |
| Long-term debt | 25,000 |
Compute the current ratio, working capital, and quick ratio.
Answer
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