The data of Graham Brothers Corp. for two years are given below.
2018 2019
Cash and cash equivalents $5,400 $12,400
Total current liabilities 22,000 32,000
Based on the above information, which of the following statements is true?
A. Cash ratio has increased from 0.255 in 2018 to 0.368 in 2019.
B. Cash ratio has increased from 0.05 in 2018 to 0.08 in 2019.
C. Cash ratio has increased from 0.02 in 2018 to 0.03 in 2019.
D. Cash ratio has increased from 0.368 in 2018 to 0.255 in 2019.
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