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Selected financial data from Crew Company is provided below. Cash $61,000 ...

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Accounting

Selected financial data from Crew Company is provided below.
Cash $61,000
Accounts Receivable $217,000
Inventory $251,000
Short-Term Investments $42,000
Land and Building $539,000
Current Portion of Long-Term Debt $22,000
Accounts Payable $126,000
a) Calculate the quick ratio.
Do not enter dollar signs or commas in the input boxes.
Round your answer to 2 decimal places.
Quick Ratio = Answer
b) True or False? A quick ratio of 2.32 shows that the company is likely to meet its short-term cash obligations.
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