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Freiman Corporation's most recent balance sheet and income statement appear below Balance Sheet Danmar 21 vo Dalace Set December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 164 $ 124 Accounts receivable, net 230 250 Inventory 124 134 Prepaid expenses 42 42 Total current assets 560 550 Plant and equipment, net 720 720 Total assets $1,280 $1,270 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $2 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity $ 134 $ 92 62 288 286 574 154 92 72 318 296 614 104 210 392 706 104 210 342 656 $1,280 $1,270 28 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) $1,390 Cost of goods sold 820 Gross margin 570 Selling and administrative expenses 369 Net operating income 201 Interest expense 39 Net income before taxes 162 Income taxes (30%) 49 Net income $ 113 The acid-test (quick) ratio at the end of Year 2 is closest to