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Question - The following is a partial list of account balances found on Company XYZ's Balance Sheet:
Cash: 5600
Accounts Receivable: 7400
Equipment: 28000
Total Assets: 82000
Accounts Payable: 3700
Total Current Liabilities: 9000
Total Liabilities: 13500
And the following is a partial listing of Income Statement values also for Company XYZ:
Revenue: 12000
Equipment Expenses: 5000
Advertising Expenses: 800
Total Expenses: 10500
Net Worth (Owner's Equity): 164000
For company XYZ, calculate the quick ratio using TWO DECIMAL PLACE accuracy.
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