Blackboard QUESTION 11 Use the following IS and balance sheets for ABC to calculate the quick ratio for the year 2006. ABC Income Statement Ending Dec. 31st 2005 $1,800,000 1,080,000 720,000 180,000 500,000 80,000 -40,000 90,000 130,000 2006 3,000,000 1,800,000 1,200,000 300,000 500,000 80,000 320,000 Net Sales - COGS Gross Pro Marketing Expenses General Administrative (G&AJExpenses Depreciation expense EBIT -Interest EBT Taxes Net Income 0120,000 200,000 50,000 150,000 -130,000 Dividends 70,000 Change in Retained Earnings 80,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers