The following information is available for Flanders and its two main competitors in the industry, Sanders and Anders: 
The industry standard for the current ratio is 1.8 and the industry standard for the acid-test ratio is 1.
Required:
1. Calculate the current ratio and acid-test ratio for each firm.
2. Rank the firms in decreasing order of liquidity.
3. Comment on Flanders' relative liquidity position.
Definitions:
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