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McFly Corporation reported the following on its 20x1 Balance Sheet: Items Cash Short-term investments Accounts receivable Inventory Long-term assets Total assets Accounts payable Long-term notes

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McFly Corporation reported the following on its 20x1 Balance Sheet: Items Cash Short-term investments Accounts receivable Inventory Long-term assets Total assets Accounts payable Long-term notes payable Common stock ($1 par value) Additional paid-in capital 20x1 $ 35,000 40,000 100,000 150,000 400,000 $ 725,000 85,000 199,500 20,000 180,000 What is the acid-test ratio for McFly Corporation in 20x1? 0.62 3.82 2.06 2.69

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