Mark Companys balance sheet reported total assets of $754,000, which include: cash, $48,000; accounts receivable, $130,000; land, $200,000; inventory, $220,000; short-term notes receivable, $150,000; and prepaid expenses, $6,000. Total liabilities amounted to $408,000, which include: accounts payable, $230,000; short-term notes payable, $10,000; unearned revenue, $8,000; and long-term liabilities, $160,000. What was the company's acid-test ratio..

1. Mark Companys balance sheet reported total assets of $754,000, which include: cash, $48,000;
accounts receivable, $130,000; land, $200,000; inventory, $220,000; short-term notes receivable,
$150,000; and prepaid expenses, $6,000. Total liabilities amounted to $408,000, which include:
accounts payable, $230,000; short-term notes payable, $10,000; unearned revenue, $8,000; and
long-term liabilities, $160,000. What was the company's acid-test ratio.