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Refer to the following selected financial information from Fennie's, LLC. Compute the company's acid-test ratio for Year 2. Year 2 Year 1 Cash $ 39,100

Refer to the following selected financial information from Fennie's, LLC. Compute the company's acid-test ratio for Year 2.

Year 2

Year 1

Cash

$ 39,100

$ 33,850

Short-term investments

106,000

68,000

Accounts receivable, net

93,500

87,500

Merchandise inventory

129,000

133,000

Prepaid expenses

13,700

11,300

Plant assets

396,000

346,000

Accounts payable

105,400

115,800

Net sales

719,000

684,000

Cost of goods sold

398,000

383,000

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