Reference no: EM131260981
The following balance sheet information is provided for Jordan Company for 2014:
Assets: Cash $ 8,000 Accounts receivable 14,150 Inventory 16,000 Prepaid expenses 2,800 Plant and equipment, net of depreciation 20,700 Land 14,600
Total assets $ 76,250
Liabilities and Stockholders' Equity: Accounts payable $ 3,510 Salaries payable 7,030 Bonds payable (Due in 2020) 18,000 Common stock, no par 10,500 Retained earnings 37,210
Total liabilities and stockholders' equity $ 76,250
What is the company's quick (acid-test) ratio? (Round your final answer to 2 decimal places.)
A. 2.10
B. 1.34
C. 3.89
D. 0.78
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