Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.

Balance Sheet (Millions of $)
Assets		2018
Cash and securities		$5,000
Accounts receivable		12,500
Inventories		12,500
Total current assets		$30,000
Net plant and equipment		$20,000
Total assets		$50,000
Liabilities and Equity
Accounts payable		$11,040
Accruals		4,960
Notes payable		7,000
Total current liabilities		$23,000
Long-term bonds		$12,000
Total liabilities		$35,000
Common stock		$4,200
Retained earnings		10,800
Total common equity		$15,000
Total liabilities and equity		$50,000
Income Statement (Millions of $)		2018
Net sales		$70,000
Operating costs except depreciation		65,100
Depreciation		1,400
Earnings before interest and taxes (EBIT)		$3,500
Less interest		1,140
Earnings before taxes (EBT)		$2,360
Taxes		944
Net income		$1,416
Other data:
Shares outstanding (millions)		500.00
Common dividends (millions of $)		$495.60
Int rate on notes payable & L-T bonds		6%
Federal plus state income tax rate		40%
Year-end stock price		$33.98

Refer to Exhibit 4.1. What is the firm's quick ratio? Do not round your intermediate calculations.

	a.	0.66
	b.	0.60
	c.	0.89
	d.	0.62
	e.	0.76