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Waterway Industries has the following current assets and liabilities on the companys balance sheet: Cash $18000; Accounts Receivable $4000; Inventory $54000; Prepaid Rent $2900; Accounts

Waterway Industries has the following current assets and liabilities on the companys balance sheet: Cash $18000; Accounts Receivable $4000; Inventory $54000; Prepaid Rent $2900; Accounts Payable $18000; Long-Term Notes Payable $21000; and Unearned Revenue $2000. The companys acid-test ratio would be 0.46:1 1.92:1 1.10:1 1.32:1.

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