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The following balance sheet information is provided for Greene Company for Year 2: Assets Cash Accounts receivable Inventory $ 5,400 15,500 18,000 Prepaid expenses
The following balance sheet information is provided for Greene Company for Year 2: Assets Cash Accounts receivable Inventory $ 5,400 15,500 18,000 Prepaid expenses 1,600 Plant and equipment, net of depreciation Land 20,200 Total assets 19,950 $80,650 Liabilities and Stockholders' Equity Accounts payable $ 4,500 Salaries payable 11,500 Bonds payable (due in ten years) 19,000 Common stock, no par 30,000 Retained earnings 15,650 Total liabilities and stockholders' equity $80,650 What is the company's quick (acid-test) ratio?
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