P23.3 (LO 6,8) A textbox reads, Excel. A textbox reads, Groupwork. (Ratio Computations and Additional Analysis) Bradburn Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Bradburn and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2026, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,000 notes, which are due on June 30, 2026, and September 30, 2026. Another note of $6,000 is due on March 31, 2027, but he expects no difficulty in paying this note on its due date. Brown explained that Bradburn's cash flow problems are due primarily to the company's desire to finance a $300,000 plant expansion over the next 2 fiscal years through internally generated funds. The commercial loan officer of Topeka National Bank requested the following financial reports for the last 2 fiscal years.

Bradburn Corporation Balance Sheet March 31

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2026 2025__

Assets Cash $18,200 $12,500 Notes receivable 148,000 132,000 Accounts receivable (net) 131,800 125,500 Inventories (at cost) 105,000 50,000 Plant & equipment (net of depreciation) 1,449,000 1,420,500 Total assets $1,852,000 $1,740,500

Liabilities and Stockholders' Equity Accounts payable $79,000 $91,000 Notes payable 76,000 61,500 Accrued liabilities 9,000 6,000 Common stock (130,000 shares, $10 par) 1,300,000 1,300,000 Retained earnings 388,000 282,000 Total liabilities and stockholders' equity $1,852,000 $1,740,500

Cash, dividends were paid at the rate of $1 per share in fiscal year 2025 and $2 per share in fiscal year 2026.

Bradburn Corporation Income Statement For the Fiscal Years Ended March 31

2026 2025 Sales revenue $3,000,000 $2,700,000 Cost of goods sold 1,530,000 1,425,000 Gross margin 1,470, 000 1,275,000 Operating expenses 860,000 780,000 Income before income taxes 610,000 495,000 Income taxes (40%) 244,000 198,000 Net income $ 366,000 $ 297,000

Depreciation charges on the plant and equipment of $100,000 and $102,500 for fiscal years ended March 31, 2025 and 2026, respectively, are included in cost of goods sold.

What is the quick ratio for 2025 and 2026?