A corporation reports the following year-end balance sheet data. Calculate the following ratios: (a) acid-test ratio (must use format x.xx) Cash.. $ 40,000 Accounts receivable............ 35,000 Inventory.. .................. 60,000 Equipment..... 150.000 Total assets... $285,000 Current liabilities. $ 64,000 Long-term liabilities.. 72,000 Common stock.. Retained earnings............... 49,000 100,000 Total liabilities and equity $285.000