Use the following table Case X Case Y Case Z Cash $ 940 $ 1,470 $ 1,940 Short term investments 0 0 780 Receivables 0 1,690 1,360 Inventory 3,400 1,560 6,520 Prepaid expenses 2,600 1,020 1,460 Total current assets $ 6,940 $ 5,740 $ 12,060 Current liabilities $ 3,600 $ 1,800 $ 5,750 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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Question: Use the following table: Case X Case Y Case Z Cash $ 940 $ 1,470 $ 1,940 Short-term investments 0 0 780 Receivables 0 1,690

Use the following table:

	Case X		Case Y		Case Z
Cash	$	940	$	1,470	$	1,940
Short-term investments		0		0		780
Receivables		0		1,690		1,360
Inventory		3,400		1,560		6,520
Prepaid expenses		2,600		1,020		1,460
Total current assets	$	6,940	$	5,740	$	12,060
Current liabilities	$	3,600	$	1,800	$	5,750

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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