Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in the table, calculate the firms acid-test ratio (quick ratio). Round the answers to two decimal places Balance Sheet December 31, 2013 Cash and marketable securities $112,000 Accounts payable $211,000 Accounts receivable $325,000 Notes payable $51,500 Inventories $426,000 Accrued expenses $50,100 Prepaid expenses $10,700 Total current liabilities $312,600 Total current assets $873,700 Long-term debt $225,000 Gross fixed assets $1,514,000 Par value and paid-in-capital $117,000 Less: accumulated depreciation $315,000 Retained Earnings $1,418,100 Net fixed assets $1,199,000 Common Equity 1,535,100 Total assets $2,072,700 Total liabilities and owners equity $2,072,700 Income Statement, Year of 2013 Net sales (all credit) $3,256,600.00 Less: Cost of goods sold $2,572,714.00 Selling and administrative expenses $323,000.00 Depreciation expense $115,000.00 EBIT $245,886.00 Interest expense $29,600.00 Earnings before taxes $216,286.00 Income taxes $86,514.40 Net income $129,771.60