Refer to the following selected financial information from Texas Electronics. Compute the company's acid-test ratio for Year 2 2 3:30 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 $ 38,900 104,000 92,500 128,000 13,500 395,000 106,400 718,000 397,000 Year 1 $ 33,650 67,000 86,500 132,000 11,100 345,000 114,800 683,000 382,000 Multiple Choice 3.42 2.34 2.56 Net sales cost of goods sold 718,000 397,000 683,000 382,000 Multiple Choice 3.42 2.34 O 2.56 3.54 2.21