Calculate the quick ratio using two decimal place accuracy

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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.

Reference no: EM133150895

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