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At year-end, Snow , Inc. has cash of $ 10 comma 000 , current accounts receivable of $ 10 comma 000 , merchandise inventory of
At year-end, Snow , Inc. has cash of $ 10 comma 000 , current accounts receivable of $ 10 comma 000 , merchandise inventory of $ 44 comma 000 , and prepaid expenses totaling $ 4 comma 500. Liabilities of $ 50 comma 000 must be paid next year. What is Snow's acid-test ratio? (Round your answer to two decimal places.)
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