Sales Cost of goods sold 5.000.000 Groas Prot 2,000,000 Selling and administrative expenses 1,700,000 Operating prod 300,000 Interest expense Income before tax 50,000 250,000 Tax expense Net income 100.000 150,000 Balance Sheet Cash Accounts receivable 810,000 2005 $ 90,000 2004 $ 80,000 800,000 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 Cotal liabilities 1,000,000 800,000 Common stock (20,000 shares) 500,000 500,000 Cetained earnings 2,800,000 2,700,000 Fotal 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