Lia's Swim Shoppe has current liabilities of $$ \$ 298,100 $$; cash in the amount $$ \$ 52,500 $$; securities valued at $$ \$ 95,400 $$; and accounts receivable of $$ \$ 158,200 $$. Calculate the acid test ratio. Round to the nearest hundredth.) Select one: a. $$ 1.80: 1 $$ b. $$ .85: 1 $$ c. $$ .97: 1 $$ d. $$ 1.03: 1 $$

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We first compute the sum of quick assets (cash, securities, and accounts receivable):

$$
\text{Quick Assets} = \$52,500 + \$95,400 + \$158,200 = \$306,100
$$

Next, we calculate the acid test ratio:

$$
\text{Acid Test Ratio} = \frac{\text{Quick Assets}}{\text{Current Liabilities}} = \frac{\$306,100}{\$298,100} \approx 1.03
$$

Thus, the acid test ratio is approximately $$1.03:1$$.
The acid test ratio is approximately $$1.03:1$$.

Lia’s Swim Shoppe has current liabilities of ; cash in the amount ; securities valued at ; and accounts receivable of .
Calculate the acid test ratio. Round to the nearest hundredth.)
Select one:
a.
b.
c.
d.

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Lia’s Swim Shoppe has current liabilities of ; cash in the amount ; securities valued at ; and accounts receivable of . Calculate the acid test ratio. Round to the nearest hundredth.) Select one: a. b. c. d.