The December 31, 2016, balance sheet of Melvin Company includes the following information:

Inventory	$ 500,000
Prepaid Expenses	40,000
Total Current Assets	1,200,000
Total Current Liabilities	500,000
Accounts Payable	360,000

What is Melvin's quick ratio at December 31, 2016?

Select one:

A. 0.93

B. 3.00

C. 2.16

D. 1.32