Mayfield Corporation has provided the following financial data:

Balance Sheet
Assets
Current assets:
Cash	$	318,000
Accounts receivable, net		331,000
Inventory		240,000
Prepaid expenses		29,000
Total current assets		918,000
Plant and equipment, net		760,000
Total assets	$	1,678,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	270,000
Accrued liabilities		71,000
Notes payable, short term		64,000
Total current liabilities		405,000
Bonds payable		138,000
Total liabilities		543,000
Stockholders' equity:
Common stock, $4 par value		398,000
Additional paid-in capital		99,000
Retained earnings		638,000
Total stockholders' equity		1,135,000
Total liabilities & stockholders' equity	$	1,678,000

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

Multiple Choice

• 1.72

• 1.67

• 2.27

• 1.60