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Ivanhoe Wholesale Company has $2,400 in cash, $7,415 in accounts receivable, $12,400 in inventory, and $3,400 in prepaid expenses. Liabilities totaled $20,400, with $6,500 current
Ivanhoe Wholesale Company has $2,400 in cash, $7,415 in accounts receivable, $12,400 in inventory, and $3,400 in prepaid expenses. Liabilities totaled $20,400, with $6,500 current and $13,900 long-term. What is Ivanhoes acid-test ratio? (Round answer to 2 decimal places, e.g. 52.75.)
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