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cengagenow.com/lm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessi Calculator $34,676 68,076 6,930 15,559 44,540 Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventony Long-term investments 86,225 112,854 73,235 36,107 26,457 Property, plant, and equipment 679.020 1,455 Long-term liabilities Marketable securities Notes payable (short-term) Prepaid expenses Based on the above data, what is the quick ratio, rounded to one decimal point? 0.8 15.3 1.6

Explanation / Answer

Current liabilities = Accounts payable + Accrued liabilities + Notes payable

= 34,676 + 6,930 + 26,457

= 68,063

Quick ratio = (cash + marketable securities + accounts receivable) / current liabilities

= (15,559 + 36,107 + 68,076) / 68,063

= 1.8

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