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At year end Schultz Inc has cash of $11600 current accounts receivable of $48900 merchandise inventory of $37900 and prepaid expenses totaling $5100 Liabilities of $55900 must be paid next

At year-end, Schultz, Inc. has cash of $11,600, current accounts receivable of $48,900, merchandise inventory of $37,900, and prepaid expenses totaling $5,100. Liabilities of $55,900 must be paid next year. What is Schultz’s acid-test ratio?

a. 1.08

b. 0.21

c. 1.76

d. Cannot be determined from the data given

Apr 21 2020 View more View Less

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