Test #3 (3 & 4 and Chapter 6) The condensed balance sheet and income statement for Marjoram Company are presented below. Balance Sheet At December 31, 2021 33,000 49,200 71.800 270,000 01:54:11 Notes receivable (due August 15, 2022) Accounts receivable (net) Merchandise inventory Property, plant, and equipment (net) Intangible assets Total assets Current liabilities Bonds payable (106) (long-term Common stock Retained earnings Total liabilities and equity $458, 200 74,000 159.600 $458, 200 MARJORAM COMPANY Income Statement For the Year ended December 31, 2021 Sales $764,000 cost of goods sold 442, 400 Gross profit Operating expenses 171.000 Operating income S150, 600 Interest expense 12.000 Income before income tax 3130, 500 Income tax expense 41.580 Net income $ 97,020 Required: Compute the acid-test ratio for Marjoram Company. (Round your answer to 2 decimal places.) Acid-test ratio Prev 1 of 191 Next > acer