The following balance sheet information is provided for Greene Company for Year 2: Assets Cash$8000? Accounts receivable 14,150? Inventory 16,000? Prepaid expenses 2800? Plant and equipment, net of depreciation 20,700? Land 14,600? Total assets$76,250? Liabilities and stockholders' Equity Accounts payable$3510? Salaries payable 7030? Bonds payable (due in ten years) 18,000? Common stock, no par 10,500? Retained earnings 37,210? Total liabilities and stockholders' equity$76,250? What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)
A. 2.10
B. 3.89
C. 1.34
D. 0.78
Answer: A
Business
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