CORRECT ANSWER D. GRIMALDI’S QUICK RATIO AT THE END OF THE YEAR...

24.

Correct answer d. Grimaldi’s quick ratio at the end of the year is 1.52 as shown below.

(Current assets – Inventory) ÷ Current liabilities

= Quick ratio

($62,000 + $35,000 + $47,000) ÷ ($84,000 + $11,000) =

1.52