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Johanson Company Income Statement For the Year Ending December 31, 2020 Sales (all on account) $28,800 Cost of goods sold 15,120 Gross profit 13,680 Operating

Johanson Company Income Statement For the Year Ending December 31, 2020 Sales (all on account) $28,800 Cost of goods sold 15,120 Gross profit 13,680 Operating expenses 11,280 Net operating income 2,400 Interest expense 400 Net income before taxes 2,000 Income taxes (40%) 800 Net income 1,200 Johanson Company's acid-test (quick) ratio for 2020 is:

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