What is the firm's quick ratio? Exhibit for questions # 40-50 The balance sheet and income statement shown below are for Koski Ine. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. 2015 Balance Sheet (Millions of Assets Cash and securities Accounts receivable Inventories $ 2,500 11.500 Total current assets Net plant and equipment Total assets 16.000 $30,000 $20.000 $50,000 Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities $ 9,500 5,500 7.000 $22.000 SI5.000 Long-term bonds Total liabilities $37,000 $ 2.000 11.000 Common stock Retained earnings Totalcommon equity Total liabilities and equity 512.000 550.000 2015 Income Statement (Millions of S) Net sales Operating costs except depreciation Depreciation Earnings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) $87,500 81,813 1,531 $ 4,156 1,375 $ 2,781 Taxes 973 Net income $ 1,808 Other data: 500.00 Shares outstanding (millions) Common dividends $632.73 6.25% Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 35% $43.39 O a. 0.51 O b.0.64 O c 0.76 O d. 0.92 e. 1.10