***Previous answer - NOT CORRECT***

Formula :

Quick ratio = Quick assets /current liability

Quick assets - subset of current assets

Given :

Quick assets : current assets =207180

Current liabilities. =90000

We're,

Quick ratio = 207180 / 90000= 2.302

***Quick ratio = 2.302 ( answer is in decimal) THIS IS NOT CORRECT***

Consider the following financial statement information for Hi-Tech Instruments: *Common stock: $25 par value, 4,600,000 shares outstanding. Calculate the company's quick ratio for the current year. Round answer to two decimal places (ex: 1.34543=1.35 ). x