Question: Use the following table: Case X Case Y Case Z Cash $ 770 $ 780 $ 980 Short-term investments 0 0 420 Receivables 0 870

Use the following table:

Case X Case Y Case Z
Cash $ 770 $ 780 $ 980
Short-term investments 0 0 420
Receivables 0 870 710
Inventory 1,700 840 3,440
Prepaid expenses 1,100 530 770
Total current assets $ 3,570 $ 3,020 $ 6,320
Current liabilities $ 1,900 $ 950 $ 3,080

Required: Calculate the quick ratio in each of the above cases and select the case which is in the best position to meet short-term obligations most easily. (Round your answers to 2 decimal places.)

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