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What is the acid-test ratio

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Reference no: EM132502088

The financial statements of Island Furniture Company include the following items see the attachment

Question 1: What is the 2019 acid-test ratio? (Round your answer to two decimal places.)

A. 0.24

B. 1.12

C. 1.74

D. 0.57

2019

Cash 45,500

Short Term INvestments- 26,000

Net accts Receivable- 102,000

Merch Inventory- 166,000

Total Assets 527,000

Total liabilities 302,000

Long term notes payable 64,000

Attachment:- acid test.zip

Reference no: EM132502088

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