following selected financial information from Texas Electronics Compute the company's acid test ratio for Year 2 Cash Short term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Year 2 Year 1 $ 39,400 $ 34,150 109,000 69,500 95,000 89,000 130,500 134,500 14,000 11,600 397,500 347,500 Accounts payable 103,900 117,300 Net sales 720,500 685,500 Cost of goods sold 399,500 384,500 Multiple Choice 3 73 3 60 Multiple Choice 3 73 3 60 2 34 2 48 2 68

Question

following selected financial information from Texas Electronics  Compute the company's acid test ratio for Year 2  Cash Short term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Year 2 Year 1 $ 39,400 $ 34,150 109,000 69,500 95,000 89,000 130,500 134,500 14,000  11,600 397,500 347,500 Accounts payable 103,900 117,300 Net sales  720,500 685,500 Cost of goods sold 399,500 384,500 Multiple Choice 3 73  3 60  Multiple Choice 3 73  3 60  2 34  2 48  2 68

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Question

following selected financial information from Texas Electronics. Compute the company's acid-test ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses

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