QUESTION 9

Based on the following data, what is the amount of quick assets?

Accounts payable

$ 30,000

Accounts receivable

65,000

Accrued liabilities

7,000

Cash

20,000

Intangible assets

40,000

Inventory

72,000

Long-term investments

100,000

Long-term liabilities

75,000

Marketable securities

36,000

Notes payable (short-term)

20,000

Property, plant, and equipment

625,000

Prepaid expenses

2,000

$163,000

$195,000

$121,000

$56,000