Refer to the following selected financial information from Texas Electronics. Compute the companys acid-test ratio for Year 2.

	Year 2			Year 1
Cash	$	38,800		$	33,550
Short-term investments		103,000			66,500
Accounts receivable, net		92,000			86,000
Merchandise inventory		127,500			131,500
Prepaid expenses		13,400			11,000
Plant assets		394,500			344,500
Accounts payable		106,900			114,300
Net sales		717,500			682,500
Cost of goods sold		396,500			381,500

Multiple Choice

• 2.19.

• 3.38.

• 2.31.

• 3.51.

• 2.54.