Brief Exercise 172 Selected financial statement data for Freeman Company are presented below.
| 12/31/17 |
| Cash |
mce_markernbsp;10,000 |
| Short-term investments |
20,000 |
| Accounts receivable |
60,000 |
| Inventories |
75,000 |
| Total current liabilities |
100,000 |
Compute the current ratio at December 31, 2017. (Round answer to 2 decimal places, e.g. 2.15:1)
Compute the acid-test ratio at December 31, 2017. (Round answer to 2 decimal places, e.g. 2.15:1)