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Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $120,000 Accounts Payable $40,000 Accounts Receivable $80,000 Notes Payable $50,000 Inventory $100,000 Long-term Debt $130,000 Property

Assets

Amount (USD)

Liabilities and Equity

Amount (USD)

Cash

$120,000

Accounts Payable

$40,000

Accounts Receivable

$80,000

Notes Payable

$50,000

Inventory

$100,000

Long-term Debt

$130,000

Property

$250,000

Shareholders' Equity

$300,000

Calculate the quick ratio for the company based on the provided balance sheet.

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