Assume a company provided the following excerpts from its balance sheet and income statement as shown below; Current assets Total assets Current liabilities Total liabilities Total stockholders' equity Ending Balance $120,000 $480,000 $ 90,000 $174,600 $305,400 Beginning Balance $140,000 $380,000 $ 70,000 $174,000 $206,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net erating income Interest expense Net income before taxes Income taxes Net Income $1,000,000 600,000 400,000 250,000 150,000 8,000 142,000 42,600 99,400 if the current assets at the end of the year include $40,000 of inventory and $5,000 of prepaid expenses, then the acid-test (quick) ratio at the end of the year is closest to Multiple Choice O 1.03. 0.83 O 0.96. 0.75