Using Cooper & Fowler Inc.'s financial statements (below), calculate their quick ratio as of December 31, 2018. Cooper & Fowler Inc. Balance Sheet at Dec. 31, 2017 and Dec. 31, 2018 Cash Accounts Receivable (A/R) Inventory Current Assets Plant and Equipment Less Accumulated Depreciation Net Plant and Equipment Total Assets Liabilities and Owners' Equity Accounts Payable (A/P) Notes Payable Current Liabilities Bonds Owners' Equity Common Stock Retained Earnings Total Owners Equity Total Liabilities and Owners' Equity Sales Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Depreciation Operating Income Interest Expense Net Income Before Taxes Taxes (40%) Net Income 2017 $200 $450 $550 3.49 2.65 1.92 4.04 $1,200 $2,200 Cooper & Fowler Inc. Income Statement for Years Ended Dec. 31, 2017 and Dec. 31, 2018 ($1,000) $1,200 $2,400 $200 $0 $200 $600 $900 $700 $1,600 $2,400 2017 $1,200 $700 $500 $30 $220 $250 $50 $200 $80 $120 2018 $150 $425 $625 $1,200 $2,600 ($1,200) $1,400 $2,600 $150 $150 $300 $600 $900 $800 $1,700 $2,600 2018 $1,450 $850 $600 $40 $200 $360 $64 $296 $118 $178

Using Cooper \& Fowler inc's finuncial statements (belowl calculate their cuick ratio as of December 31, 2018. 265 +92 404