The following balance sheet information is provided for Greene Company for Year 2: ...
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Accounting
The following balance sheet information is provided for Greene Company for Year 2:
| Assets | |||
| Cash | $ | 4,200 | |
| Accounts receivable | 10,350 | ||
| Inventory | 14,100 | ||
| Prepaid expenses | 900 | ||
| Plant and equipment, net of depreciation | 18,800 | ||
| Land | 12,700 | ||
| Total assets | $ | 61,050 | |
| Liabilities and stockholders' equity | |||
| Accounts payable | $ | 2,370 | |
| Salaries payable | 8,930 | ||
| Bonds payable (due in ten years) | 8,500 | ||
| Common stock, no par | 20,000 | ||
| Retained earnings | 21,250 | ||
| Total liabilities and stockholders' equity | $ | 61,050 | |
What is the company's quick (acid-test) ratio?
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