Selected Financial Statement Data for Freeman Company Are Presented Below

Essay

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.