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The financial statements for Stephens' Electric Company include the following items: 2017 2016 Cash Cash Equivalents Net Accounts Receivable Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable Income From Operations Interest Expense $55,000 23,500 30,000 81,000 530,000 44,500 24,000 61,000 124,500 28,000 $51,000 20,000 26,000 65,000 548,000 35,000 20,000 57,000 115,000 33,000 Compute the 2016 cash ratio. (Round your answer to two decimal places.) A 1.29 B 1.15 2.03 0.63