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The following balance sheet information is provided for Greene Company for Year 2: Assets Cash $5,200 Accounts receivable 11,350 Inventory 14,600 Prepaid expenses 1,400 Plant
The following balance sheet information is provided for Greene Company for Year 2:
Assets | |
---|---|
Cash | $5,200 |
Accounts receivable | 11,350 |
Inventory | 14,600 |
Prepaid expenses | 1,400 |
Plant and equipment, net of depreciation | 19,300 |
Land | 13,200 |
Total assets | $65,050 |
Liabilities and Stockholders' Equity | |
Accounts payable | $2,670 |
Salaries payable | 8,430 |
Bonds payable (Due in ten years) | 11,000 |
Common stock, no par | 17,500 |
Retained earnings | 25,450 |
Total liabilities and stockholders' equity | $65,050 |
What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)
Multiple Choice
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1.49
-
0.75
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2.93
-
1.41
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