Meikwei Internationals common stock sold for $ per share at the end of this year. The company paid preferred stock dividends totalling $ and a common stock dividend of $ per share this year. It also provided the following data excerpts from this years financial statements:
Ending
Balance Beginning Balance
Cash $ $
Accounts receivable $ $
Inventory $ $
Current assets $ $
Total assets $ $
Current liabilities $ $
Total liabilities $ $
Preferred stock $ $
Common stock, $ par value $ $
Total stockholders equity $ $
Total liabilities and stockholders equity
$
$
This Year
Sales all on account $
Cost of goods sold $
Gross margin $
Net operating income $
Interest expense $
Net income $
Required:
What is the acidtest ratio at the end of this year? Round your answer to decimal places.