Using the following year-end information for Calvin’s Clothing, calculate the current ratio and acid-test ratio for the business: Cash $ 51,680
Short-term investments 8,000
Accounts receivable 46,000
Inventory 150,000
Prepaid expenses 8,520
Accounts payable 102,000
Other current payables 30,100
a. 1.00 and 1.25
b. .50 and 1.25
c. 2.50 and 1.25
d. 2.00 and 0.80
e. 1.00 and 0.80