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On December 31, 2004, Curry Co. had the following balances in selected asset accounts: Cash Accounts receivable, net Inventory Prepaid expenses Other assets Total assets
On December 31, 2004, Curry Co. had the following balances in selected asset accounts: Cash Accounts receivable, net Inventory Prepaid expenses Other assets Total assets 2004 $300 1,200 500 100 400 $2,500 Increase over 2003 $100 400 200 40 150 $890 Curry also had current liabilities of $1,000 on December 31, 2004, and net credit sales of $7,200 for the year then ended. What is Curry's acid-test ratio on December 31, 2004
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