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At year-end, Snow, Inc. has cash of $ 9 comma 000, current accounts receivable of $ 50 comma 000, merchandise inventory of $ 21 comma
At year-end, Snow, Inc. has cash of $ 9 comma 000, current accounts receivable of $ 50 comma 000, merchandise inventory of $ 21 comma 000, and prepaid expenses totaling $ 4 comma 100. Liabilities of $ 20 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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