What is CJalloway Companys acid-te.st ratio? a. 2.39 b. 0.69 c. 1.31 d. 6.69 e. 3.88 GALLOWAY

What is CJalloway Company’s acid-te.st ratio?

a. 2.39

b. 0.69

c. 1.31

d. 6.69

e. 3.88

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GALLOWAY COMPANY Balance Sheet December 31, 2013 Assets Cash..... $ 86,000 Accounts receivable 76,000 Merchandise inventory 122,000 Prepaid insurance 12,000 Long-term investments.. 98,000 Plant assets, net.... 436,000 Total assets $830,000 Liabilities and Equity Current liabilities.... $124,000 Long-term liabilities.... 90,000 Common stock.... 300,000 Retained earnings 316,000 Total liabilities and equity $830,000