Refer to the following selected financial information from Texas Electronics Compute the company's acid-test ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets ear Year $ 37,700 $ 32,450 92,000 61,000 86,500 80,500 122,000 126,000 12,300 9,900 389,000 339,000 Accounts payable 112,400 108,800 Net sales 712,000 677,000 Cost of goods sold 391,000 376,000 Multiple Choice 3.12 3.01