Excerpts from Sydner Corporation's most recent balance sheet appear below: ...
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Accounting
Excerpts from Sydner Corporation's most recent balance sheet appear below:
| Year 2 | Year 1 | |
| Current assets: | ||
| Cash | $140 | $160 |
| Accounts receivable | 210 | 230 |
| Inventory | 240 | 200 |
| Prepaid expenses | 10 | 10 |
| Total current assets | $600 | $600 |
| Total current liabilities | $360 | $330 |
Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The acid-test ratio at the end of Year 2 is closest to:
| 0.97 | ||
| 1.25 | ||
| 1.00 | ||
| 1.67 |
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