The 2020 and 2021 balance sheets for Ivanhoe Manufacturing Company appear below along with selected financial information. Ivanhoe declared no dividends during either year,and had 1,000 shares of stock outstanding throughout each year. Current Assets 2021 2020 Cash Accounts receivable, net Inventory Total current assets Plant & equipment, net Total assets Current liabilities Noncurrent liabilities Total Liabilities $20,000 24,000 33,000 77,000 64,000 $141,000 $24,000 64,000 88,000 Stockholders' equity Common stock Additional paid-In capital Retained earnings 6,000 8,000 39,000 Total stockholders' equity 53,000 Total liabilities and stockholders' equity $141,000 (a) Calculate the acid-test ratio for 2020. (Round answer to 2 decimal places, e.g. 52.75) Acid-test ratio eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer