Carlo Warner

Business

1 November, 07:26

The following balance sheet information is provided for Greene Company for Year 2: Assets Cash $ 7,600 Accounts receivable 13,750 Inventory 15,800 Prepaid expenses 2,600 Plant and equipment, net of depreciation 20,500 Land 14,400 Total assets $ 74,650 Liabilities and Stockholders' Equity Accounts payable $ 3,390 Salaries payable 7,230 Bonds payable (Due in ten years) 17,000 Common stock, no par 11,500 Retained earnings 35,530 Total liabilities and stockholders' equity $ 74,650 What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)