At year-end, SallySally, Inc. has cash of $ 14 comma 000$14,000, current accounts receivable of $ 70 comma 000$70,000, merchandise inventory of $ 42 comma 600$42,600, and prepaid expenses totaling $ 4 comma 200$4,200. Liabilities of $ 20 comma 000$20,000 must be paid next year. What is Sally'sSally's acid-test ratio? (Round your answer to two decimal places.) A. 4.204.20 B. 6.336.33 C. 0.700.70 D. Cannot be determined from the data given

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.