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

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