The financial statements for Silver Service Company include the following items: 

                                             2019      2018 

Cash                                  $44,500 $40,000 

Short−term Investments 32,000 12,500 

Net Accounts Receivable 58,000 50,000 

Merchandise Inventory 135,000 50,000 

Total Assets                      534,000 547,000 

Accounts Payable            130,500 125,000 

Salaries Payable                  21,000 16,000

Long-term Note payable   59,000 55,000

Compute the acid - test ratio for 2018. 

Answer rating: 100% (QA)

acid test ratio current assets less stock current liabilitie... View the full answer