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The financial statements for Myers Service Company include the following items

2017 2016 Cash $51,500 $49,000 Short-term Investments 27,000 13,500 Net Accounts Receivable 55,000 52,000 Merchandise Inventory 131,000 47,000 Total Assets 528,000 553,000 Accounts Payable 129,500 124,000 Salaries Payable 23,000 19,000 Long-term Note Payable 60,000 60,000 Compute the acid-test ratio for 2016. (Round your answer to two decimal places) A) 0.88 B) 0.80 C) 0.92 D) 0.71

Formal proposals differ from informal proposals only in length

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