Alpha Company reported the following data:

Cash	$80,000
Accounts receivable	120,000
Marketable securities	40,000
Inventory	100,000
Prepaid rent expense	10,000
Accounts payable	70,000
Current portion of long-term debt	140,000
Net credit sales	1,000,000
Cost of goods sold	600,000

The quick ratio is closest to:

Multiple Choice

• 3.57

• 1.67

• 1.29

• 1.54

• None of Above