Luther Corporation

Consolidated Balance Sheet

December 31, 2006 and 2005 (in $ millions)

Assets	2006	2005	Liabilities and Stockholders' Equity	2006	2005
Current Assets			Current Liabilities
Cash	65.7	58.5	Accounts payable	87.7	73.5
Accounts receivable	54.4	39.6	Notes payable / short-term debt	9.6	9.6
Inventories	46.1	42.9	Current maturities of long-term debt	39.9	36.9
Other current assets	5.1	3.0	Other current liabilities	6.0	12.0
Total current assets	171.3	144.0	Total current liabilities	143.2	132.0
Long-Term Assets			Long-Term Liabilities
Land	66.6	62.1	Long-term debt	237.7	168.9
Buildings	106.2	91.5	Capital lease obligations
Equipment	119.3	99.6
Less accumulated depreciation	(56.6)	(52.5)	Deferred taxes	22.8	22.2
Net property, plant, and equipment	235.5	200.7	Other long-term liabilities	---	---
Goodwill	60.0	--	Total long-term liabilities	260.5	191.1
Other long-term assets	63.0	42.0	Total liabilities	403.7	323.1
Total long-term assets	358.5	242.7	Stockholders' Equity	126.1	63.6
Total Assets	529.8	386.7	Total liabilities and Stockholders' Equity	529.8	386.7

Refer to the balance sheet above. Luther's quick ratio for 2006 is closest to ________.

Group of answer choices

0.87

1.75

0.88

1.31