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Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet Dec. 3 1 , Year 7 Dec. 3 1 , Year 6

Selected financial data for Wilmington Corporation is presented below.
WILMINGTON CORPORATION Balance Sheet Dec. 31, Year 7 Dec. 31, Year 6 Current Assets Cash and cash equivalents $519,159 $274,579 Marketable securities 166,106187,064 Accounts receivable (net)232,548260,190 Inventories 382,044352,022 Prepaid expenses 49,83222,958 Other current assets 83,05385,029 Total Current Assets 1,432,7421,181,842 Property, plant and equipment 1,384,217625,421 Long-term investment 568,003425,000 Total Assets $3,384,962 $2,232,263 Current Liabilities Short-term borrowings $306,376 $170,419 Current portion of long-term debt 155,000168,000 Accounts payable 228,700257,631 Accrued liabilities 246,292150,285 Income taxes payable 87,962161,020 Total Current Liabilities 1,024,330907,355 Long-term debt 500,000300,000 Deferred income taxes 193,515236,164 Total Liabilities 1,717,8451,443,519 Common stock $425,250 $125,000 Additional paid-in capital 356,450344,335 Retained earnings 885,417319,409 Total Stockholders' Equity 1,667,117788,744 Total Liabilities and Stockholders' Equity $3,384,962 $2,232,263
Selected Income Statement Data for the year ending December 31, Year 7 Net sales $4,885,340 Cost of goods sold (2,978,182) Selling expenses (884,685) Operating income 1,022,473 Interest expense (55,240) Earnings before income taxes 967,233 Income tax expense (401,225) Net income $566,008
Selected Statement of Cash Flow Data for the year ending December 31, Year 7 Cash flows from operations $1,310,476 Capital expenditures $745,862
Required
Wilmington Corporations quick ratio in Year 7 was:
Select one:
a.1.40
b.0.90
c.0.67
d.1.12

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