The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Assets Liabilities and Equity
Cash $60
Accounts payable $235
Accounts receivable (net) 178
Other current liabilities 63
Notes receivable 67
Total current liabilities 298
Inventory 205
Long-term liabilities 96
Prepaid expenses 40
Total liabilities 394
Total current assets 550
Shareholders' equity:
Equipment (net) 258
Common stock 130
Retained earnings 284
Total shareholders' equity 414
Total assets $808
Total liabilities and equity $808
Consider Notes receivable to be liquid assets. The acid-test ratio is:.
a. 1.41.
b. 0.33.
c. 1.82.
d. 1.04.