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LLARIES CUI On May 1 XYX Inc. purchased $ 38000 inventory on credit from one of its suppliers. Prior to the purchase, XYX Inc. had

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LLARIES CUI On May 1 XYX Inc. purchased $ 38000 inventory on credit from one of its suppliers. Prior to the purchase, XYX Inc. had current liabilities of 120000 and a quick ratio of 2. Calculate XYX Inc.'s new quick ratio after the purchase of inventory on credit. Round your answer to two decimal places, e.g., 0.86. Quick assets are defined as cash and near-cash assets, including cash, short-term investments, and accounts receivable (net of allowance for doubtful accounts) and excluding inventories. Your

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