MEGAFRAME COMPUTER COMPANY Balance Sheet As at December 31, 20X5 ASSETS Cash $40,000 Accounts receivable 60,000 90.000 Inventory New plant and equipment Total Assets 220,000 $410,000 $60.000 40.000 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Accrued expenses Long-term debt Common stock Retained earnings Total Liabilities and Shareholders' Equity 130.000 80.000 100.000 $410,000 $700,000 MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31, 20X5 Sales (all on credit) Cost of goods sold Gross profit Selling and administrative expense Operating profit 400.000 300.000 100,000 200,000 interest expense 40,000 Net income before taxes 160.000 Taxes (5096) 80.000 Net income 80.000 Megaframe's quick ratio is: Select one . 1.6:1 O b. 3:1 Oc. 1:1 O d. 1:2