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The following account balance information is available as of December 31, 2015 for XYZ Co. Cash.......... $3,000,000 Accounts receivable $2,000,000 Marketable securities.. $1,500,000 Prepaid insurance
The following account balance information is available as of December 31, 2015 for XYZ Co. Cash.......... $3,000,000 Accounts receivable $2,000,000 Marketable securities.. $1,500,000 Prepaid insurance .$500,000 Equipment (net) $6,000,000 Current liabilities (total) $1,500,000 Long-term liabilities (total). $7,000,000 Common stock $2,800,000 Retained earnings.. $1,100,000 What is XYZ Co.'s quick or acid-test ratio? a 82 b.4.33 C.76 d. 4.67
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