Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 $ Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets 194 $ 154 305 325 154 164 57 57 710 700 870 870 $1,580 $1,570 $ Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $2 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 164 $ 107 77 348 331 679 184 107 87 378 341 719 134 134 285 285 482 432 901 851 $1,580 $1,570 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) $1,990 Cost of goods sold 1,120 Gross margin 870 Selling and administrative expenses 444 Net operating income 426 Interest expense 69 Net income before taxes 357 Income taxes (30%) 107 Net income $ 250 The acid-test (quick) ratio at the end of Year 2 is closest to: Multiple Choice 1.67 2.10 1.13 1.43