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What is the company quick or acid-test ratio

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The following balance sheet information is provided for Greene Company for Year 2:

Assets Cash $5,400

Accounts receivable 15,500

Inventory 18,000

Prepaid expenses 1,600

Plant and equipment, net of depreciation 20,200

Land 19,950

Total assets $80,650

Liabilities and Stockholders' Equity Accounts payable $4,500

Salaries payable 11,500

Bonds payable (Due in ten years) 19,000

Common stock, no par 30,000

Retained earnings 15,650

Total liabilities and stockholders' equity $80,650

Problem 1: What is the company's quick (acid-test) ratio?

Reference no: EM132814783

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