Financial statements for March Company appear below:

March Company

Balance Sheet

December $31,20$X$6$ and $20$X$5($dollars in thousands$)$

$20$X$620$X$5$

Current assets:

Cash and marketable securities $$220$ $$190$

Accounts receivable, net $160150$

Inventory $150150$

Prepaid expenses $5040$

Total current assets $580530$

Noncurrent assets:

Plant & equipment, net $1,5601,560$

Total assets $$2,140$ $$2,090$

Current liabilities:

Accounts payable $$90$ $$100$

Accrued liabilities $8060$

Notes payable, short term $230230$

Total current liabilities $400390$

Noncurrent liabilities:

Bonds payable $450500$

Total liabilities $850890$

Shareholders' equity:

Preferred shares, $$10$ par, $8\%120120$

Common shares, $$5$ par $180180$

Additional paid$-$in capital$--$common shares $220220$

Retained earnings $770680$

Total shareholders' equity $1,2901,200$

Total liabilities & shareholders' equity $$2,140$ $$2,090$

March Company

Income Statement

for the Year Ended December $31,20$X$6($dollars in thousands$)$

Sales $($all on account$)$ $$1,610$

Cost of goods sold $1,120$

Gross margin $490$

Operating expenses $190$

Net operating income $300$

Interest expense $50$

Net income before taxes $250$

Income taxes $(30\%)75$

Net income $$175$

March Company's acid$-$test $($quick$)$ ratio at the end of $20\backslash$times $6$ was closest to:

Question $6$ options:

$0\mathrm{.}39$ to $1.$

$1\mathrm{.}90$ to $1.$

$0\mathrm{.}53$ to $1.$

$0\mathrm{.}95$ to $1.$