Question 38 of 40 2020 2021 Current assets Cash and cash equivalents Accounts receivable, net Inventory Marketable equity securities Total current assets Plant & equipment, net Total assets $ 23000 $ 22130 27000 31000 32000 30000 5700 5700 87700 88830 65300 42170 $153000 $131000 Current liabilities Noncurrent liabilities Total liabilities Total stockholders' equity Total liabilities and stockholders' equity $27000 $37000 67000 47000 94000 84000 59000 47000 $153000 $131000 Calculate the 2021 acid-test ratio. O 1.56 O 1.44 O 2.40 rm 1 (Fall 2020) Question 37 of 40 - /5.63 View Policies Current Attempt in Progress Linda's Cutting Station offers a new concept in haircuts; low cost and very quick. Set in a local mall, Linda's offers 15-minute haircuts with a shampoo for harried shoppers who do not have time for lengthy appointments. To ensure that the clients are in and out quickly, Linda schedules her 5 employees based on expected client traffic. Each of the employees is paid $1210 per month, with part of their pay coming from client tips, Linda pays rent and overhead costs of $2000 per month for the facility. Because of the quick nature of the service, Linda doesn't have time to clean combs in between clients, so she uses a new comb for each customer, at a cost of $0.65 each. She also provides shampoo and conditioner for each client at a cost of $0.90 per client. The average price for a haircut is $12. Linda pays herself $5900 per month. What are Linda's fixed costs for the month? $9260 $13950 O $8050 O $11950 Save for Later Attempts: 0 of 1 used Submit Answer Question 36 of 40 - /5.63 E View Policies Current Attempt in Progress Patricia, Inc. is planning to sell 656000 units for $1.20 per unit. The contribution margin ratio is 15%. If Saira will break even at this level of sales, what are the fixed costs? O $537920 O $118080 $656000 $754400 Saveforlater Attempts: 0 of 1 used Submit