HW Ch2 & CH3

Question 37

The balance sheet for Altoid Co. is shown below. $ 210 500 600 750 ALTOID CO. Balance Sheet At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity: Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and shareholders' equity 1,210 $ 3,270 $ 750 900 450 1,170 $ 3,270 Selected 2021 income statement information for Altoid Co. includes: $8,300 7,340 966 Net Sales Operating expenses Income before interest and tax Interest expense Income tax expense Net income 60 270 $ 630 Required: Compute the following financial statement ratios for 2021: Altoid Co.'s acid-test ratio. (Round your answer to 2 decimal places.) Acid-test ratio