QUESTION 23 Delta Company reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash $50,000 Current liabilities 55,000 Long-term liabilities 60,000 Common stock 145,000 Retained earnings $ 75,000 35,000 110,000 90,000 Accounts receivable Inventory Equipment Total assets 0.73 1.40 2.20 0.67 0.63 $310,000 Total liabilities and equity $310,000