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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

  • 1.49

  • 0.75

  • 2.93

  • 1.41

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