Help QS 4-22 (Static) Computing and interpreting acid-test ratio LO A1 The following information on current assets and current liabilities is for Belkin Company Cash $ 1,490 Prepaid expenses Accounts receivable 2,800 Accounts payable Inventory 6,000 other current liabilities a. Compute Belkin's acid-test ratio. b. If its competitor, Logit has an acid-test ratio of 1.2, which company is better able to pay for current liabilities with its quick assets? $ 700 5.750 850 Complete this question by entering your answers in the tabs below. Required A Required B Compute Belkin's acid-test ratio. Belkin's acid-test ratio Denominator: Numerator: Acid-Test Ratio Acid-test ratio to 1 1 1 Required B > Required a QS 4-22 (Static) Computing and interpreting acid-test ratio LO A1 The following information on current assets and current liabilities is for Belkin Company Cash $ 1,490 Prepaid expenses Accounts receivable Inventory 6.000 Other current liabilities a. Compute Belkin's acid-test ratio, b. If its competitor, Logit, has an acid-test ratio of 1.2 which company is better able to pay for current liabilities with its quick assets? 2,800 Accounts payable $ 100 350 5.750 Complete this question by entering your answers in the tabs below. Required A Requirede If its competitor, Logit, has an acid-test ratio of 1.2, which company is better able to pay for current liabilities with its quick assets? Which company is better able to pay for current liabilities with its quick assets ?