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Use the following information to answer the questions: Assets Liabilities and Equity Cash 9,000 Accounts payable 21,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable
Use the following information to answer the questions:
Assets | Liabilities and Equity | |||
Cash | 9,000 | Accounts payable | 21,000 | |
Marketable securities | 2,000 | Notes payable | 6,000 | |
Accounts receivable | 3,000 | Current liabilities | 27,000 | |
Inventory | 43,000 | Long-term debt | 95,000 | |
Current assets | 57,000 | Total liabilities | 122,000 | |
Machines | 34,000 | Paid-in capital | 20,000 | |
Real estate | 80,000 | Retained earnings | 29,000 | |
Fixed assets | 114,000 | Equity | 49,000 | |
Total assets | 171,000 | Total liab. & equity | 171,000 |
What is the quick ratio (aka the acid test)?
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