Question: Use the following table: Case X Case Y Case Z Cash $ 870 $ 1,190 $ 1,520 Current investments 0 0 640 Receivables 0 1,340

Use the following table:

Case X Case Y Case Z
Cash $ 870 $ 1,190 $ 1,520
Current investments 0 0 640
Receivables 0 1,340 1,080
Inventory 2,700 1,280 5,260
Prepaid expenses 1,900 810 1,180
Total current assets $ 5,470 $ 4,620 $ 9,680
Current liabilities $ 2,900 $ 1,450 $ 4,700

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.) You have to show all steps to achieve the full mark.

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