The acid-test ratio is a. 1.05. b. 1.5. C. 1.55. d. 2.0. BAREFOOT INDUSTRIES Balance Sheet and

The acid-test ratio is

a. 1.05.

b. 1.5. C. 1.55.

d. 2.0.

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BAREFOOT INDUSTRIES Balance Sheet and Income Statement Data At December 31, 2009, and for the Year Then Ended Assets Cash.... Accounts receivable. Merchandise inventory. Land Equipment.. Accumulated depreciation. $ 400 440 360 100 300 (100) Liabilities and Owners' Equity Accounts payable.. $ 300 Notes payable, short-term. 500 Long-term debt.. 200 100 400 Common stock Retained earnings Income Statement Sales... $3,000 Cost of goods sold (2,000) Gross profit. Selling expenses. Income taxes. Net income. 1,000 (500) (200) 300