Income statement Balance sheet and market price data Balance sheet and market price data Assume that you are purchasing an investment and have decided to invest in a company in the Selected balance sheet and market-price data at the end of the current year follow: smartphone business. You have narrowed the choice to Digitized Electronics or Singular Electronics and have assembled the following data. Selected income statement data for (Click to view the market price data.) the current year follows: (Click to view the income statement data.) Selected balance sheet data at the beginning of the current year follow: Your strategy is to invest in companies that have low price/earnings ratios but appear to (Click to view the balance sheet data.) your decision depends on the results of ratio analysis. Read the requirement. (Enter any percentages as decimals in this format, X.XX. Round your answers to two decimal places.) \begin{tabular}{lcl} & Digitized & Singular \\ \hline a. Acid-test ratio & & \\ \hline \end{tabular}