The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below....
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Accounting
The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.
| Assets | Liabilities and Equity | ||||||
| Current assets: | Current liabilities: | ||||||
| Cash | $ | 73 | Accounts payable | $ | 236 | ||
| Accounts receivable (net) | 181 | Other liabilities | 67 | ||||
| Notes receivable | 67 | Total current liabilities | 303 | ||||
| Inventories | 204 | Long-term liabilities | 101 | ||||
| Prepaid expenses | 36 | Total liabilities | 404 | ||||
| Total current assets | 561 | Shareholders' equity: | |||||
| Plant assets (net) | 260 | Capital stock | 139 | ||||
| Retained earnings | 278 | ||||||
| Total shareholders' equity | 417 | ||||||
| Total assets | $ | 821 | Total liabilities and equity | $ | 821 | ||
The acid-test ratio is (Round your answer to two decimal places.):
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