Yn taor Current Assets, Current Liabilities, and Inventory, respectively. You\'r

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Yn taor Current Assets, Current Liabilities, and Inventory, respectively. You're given two pieces of info, the Current Ratio and the Acid Test Ratio... Current Ratio = = 2.25 And Acid Test Ratio = = 1.2 Substituting in our known value of I, you end up with two equations and two unknowns... 2.25(CL) = CA 1.20(CL) = CA - 840,000 Solve that to determine Current Assets and Current Liabilities. (One approach: Deduct the second equation from the first, which immediately eliminates CA. Solve for CL, and use that CL amount in either of the equations to determine CA.) Now that you know what Current Assets are, and you're given Total Assets, then the solution for Noncurrent Assets (#3) is a piece o' cake. Next, you're given

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