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Stimac Corporation has total cash of $255,000, no marketable securities, total current receivables of $326,000, total...

Stimac Corporation has total cash of $255,000, no marketable securities, total current receivables of $326,000, total inventory of $169,000, total prepaid expenses of $62,000, total current assets of $812,000, total current liabilities of $288,000, total stockholders’ equity of $1,914,000, total assets of $2,765,000, and total liabilities of $851,000. The company’s acid-test (quick) ratio is closest to:

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Answer #1

Acid test ratio = Quick assets / Current liabilities

= (Cash 255,000 + Accounts Receivable 326,000) / 288,000

= 581,000 / 288,000

= 2.02

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