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Mayfield Corporation has provided the following financial data: Assets Current assets: Cash $223,000 Accounts receivable 236,000 Inventory 202,000 Prepaid expenses 10,000 Total current assets 671,000

Mayfield Corporation has provided the following financial data:

Assets
Current assets:
Cash $223,000
Accounts receivable 236,000
Inventory 202,000
Prepaid expenses 10,000
Total current assets 671,000
Plant and equipment, net 665,000
Total assets $1,336,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $156,000
Accrued liabilities 52,000
Notes payable, short term 45,000
Total current liabilities 253,000
Bonds payable 100,000
Total liabilities 353,000
Stockholders' equity:
Common stock, $4 par value 360,000
Additional paid-in capital-common stock 80,000
Retained earnings 543,000
Total stockholders' equity 983,000
Total liabilities & stockholders' equity $1,336,000

The company's acid-test (quick) ratio is closest to:

1.90

1.85

2.65

1.81

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