Macmillan Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's acid-test (quick) ratio at the end of Year 2 is closest to:
A) 1.96
B) 1.41
C) 1.20
D) 1.48

Question

Macmillan Corporation has provided the following financial data:  Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's acid-test (quick) ratio at the end of Year 2 is closest to:
A) 1.96 
B) 1.41 
C) 1.20 
D) 1.48

Quizplus · Accepted Answer

The Answer of Macmillan Corporation has provided the following financial data:  Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's acid-test (quick) ratio at the end of Year 2 is closest to:
A) 1.96 
B) 1.41 
C) 1.20 
D) 1.48

Macmillan Corporation Has Provided the Following Financial Data: Dividends