TB Problem $3-134($Algo$)$ The balance sheet for...

The balance sheet for Altoid Company is shown below.

$\backslash$table$[[\backslash$table$[[$ALTOID COMPANY$],[$Balance Sheet$],[$December $31,2024]],],[$Assets:$],[$Cash$,$$$230],[$Short$-$term investments,$600],[$Accounts receivable $($net$),700],[$Inventory$,850],[$Property$,$ plant, and equipment $($net$),1,180],[$Total assets,$$3,560],[$Liabilities and shareholders' equity:,$],[$Current liabilities,$$850],[$Long$-$term liabilities,$1,000],[$Common stock,$550],[$Retained earnings,$1,160],[$Total liabilities and shareholders' equity,$$3,560]]$

Selected $2024$ income statement information for Altoid Company includes:

$\backslash$table$[[$Net Sales,$$8,500],[$Operating expenses,$7,190],[$Income before interest and tax,$1,310],[$Interest expense,$110],[$Income tax expense,$360],[$Net income,$$840]]$

Required:

Compute Altoid Company's acid$-$test ratio for $2024.$

Note: Round your answer to $2$ decimal places.

Acid$-$test ratio