What is the acid-test ratio at the end of this year?

Orange Inc.s common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year.

It also provided the following data excerpts from this years financial statements:

	Ending Balance	Beginning Balance
Cash	$35,000	$30,000
Accounts receivable	$60,000	$50,000
Inventory	$55,000	$60,000
Current assets	$ 150,000	$ 140,000
Total assets	$450,000	$460,000
Current liabilities	$60,000	$40,000
Total liabilities	$ 130,000	$ 120,000
Common stock, $1 par value	$ 120,000	$ 120,000
Total stockholders equity	$320,000	$340,000
Total liabilities and stockholders equity	$450,000	$460,000
	This Year
Sales (all on account)	$700,000
Cost of goods sold	$400,000
Gross margin	$300,000
Net operating income	$ 140,000
Interest expense	$8,000
Net income	$92,400