A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals:

Cash	$	54,000		Current liabilities	$	89,000
Accounts receivable		69,000		Long-term liabilities		21,000
Inventory		74,000		Common stock		114,000
Equipment		159,000		Retained earnings		132,000
Total assets	$	356,000		Total liabilities and equity	$	356,000

Multiple Choice

• 0.45

• 0.31

• 2.21

• 0.69

• 1.38