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Use the following information to answer the questions:AssetsLiabilities and EquityCash 1 2 , 0 0 0 Accounts payable 2 2 , 0 0 0 Marketable

Use the following information to answer the questions:AssetsLiabilities and EquityCash12,000Accounts payable22,000Marketable securities2,000Notes payable6,000Accounts receivable3,000Current liabilities28,000Inventory35,000Long-term debt95,000Current assets52,000Total liabilities123,000Machines34,000Paid-in capital20,000Real estate80,000Retained earnings23,000Fixed assets114,000Equity43,000Total assets166,000Total liab. & equity166,000 Attempt 1/3 for 10 pts.Part 1What is the quick ratio (aka the acid test)?

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