The financial statements for Stephens' Electric Company indude the following items: 2016 2017 $51,000 $55,000 23,500 Cash 20,000 Cash Equivalents 30,000 81,000 26,000 Net Accounts Receivable Merchandise Inventory 65,000 Total Assets 530,000 548,000 Accounts Payable 44,500 44,500 Salaries Payable 35,000 24,000 20,000 Long-term Note Payable Income From Operations Interest Expense 61,000 57,000 124,500 28,000 115,000 33,000 Compute the 2016 cash ratio