Compute the 2018 cash ratio.

The financial statements for Stephens' Electric Company include the following items: 2019 2018 Cash $52,000 21,500 24,000 81,000 529,000 46,500 $51,000 12,000 35,000 70,000 550,000 42,000 19,000 52,000 Cash Equivalents Net Accounts Receivable Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable Income From Operations Interest Expense 21,000 63,000 116,000 29,000 125,500 30,000 Compute the 2018 cash ratio. (Round your answer to two decimal places.) O A. 1.09 O B. 0.56 O C. 1.50 O D. 1.03