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1. Mayfield Corporation has provided the following financial data: $ 233,000 246,000 206,000 12,000 697,000 675,000 $ 1,372,000 Balance Sheet Assets Current assets: Cash Accounts

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Mayfield Corporation has provided the following financial data: $ 233,000 246,000 206,000 12,000 697,000 675,000 $ 1,372,000 Balance Sheet Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $4 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity $ 168,000 54,000 47,000 269,000 104,000 373,000 364,000 82,000 553,000 999,000 $ 1,372,000 The company's acid-test (quick) ratio is closest to: The company's acid-test (quick) ratio is closest to: Multiple Choice 1.78 O 1.88 2.59 O O 1.83

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