Sales Coat of goods sold 5.000.000 Greas Frot 2,000,000 Selling and administrative expenses Operating profit 1,700,000 300,000 Interest expense Income before tax 50,000 250,000 100.000 Tax expense Net income 150,000 Balance Sheet Cash Accounts receivable $ 90,000 2005 $ 80,000 2004 810,000 800,000 Inventory Total Current assets Fixed assets Total assets Accounts payable Bank loan 800,000 720,000 1,700,000 1,600,000 2,600,000 2,400,000 4,300,000 4,000,000 500,000 400,000 100,000 100,000 Total current liabilities 600,000 500,000 Bonds payable 400,000 300,000 Total liabilities 1,000,000 800,000 Common stock (20,000 shares) 500,000 500,000 etained earnings 2,800,000 2,700,000 otal liabilities and shareholders' eq 4,300,000 4,000,000 e: The common shares are trading in the stock market for $27 each. The firm's quick ratio for 2005 is, A) 1.30 B) 1.50 C) 1.69 D) 2.83