A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash$40,000 Current liabilities$75,000 Accounts receivable 55,000 Long-term liabilities 35,000 Inventory 60,000 Common stock 100,000 Equipment 145,000 Retained earnings 90,000 Total assets$300,000 Total liabilities and equity$300,000
A. 1.27
B. 0.37
C. 0.63
D. 2.07
E. 0.58
Answer: A
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