Mayfield Corporation has provided the following financial data:

Balance Sheet
Assets
Current assets:
Cash	$	288,000
Accounts receivable, net		301,000
Inventory		228,000
Prepaid expenses		23,000
Total current assets		840,000
Plant and equipment, net		730,000
Total assets	$	1,570,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	234,000
Accrued liabilities		65,000
Notes payable, short term		58,000
Total current liabilities		357,000
Bonds payable		126,000
Total liabilities		483,000
Stockholders' equity:
Common stock, $4 par value		386,000
Additional paid-in capital		93,000
Retained earnings		608,000
Total stockholders' equity		1,087,000
Total liabilities & stockholders' equity	$	1,570,000

The companys acid-test (quick) ratio is closest to:

Multiple Choice

• 1.76

• 1.71

• 2.35

• 1.65