Standard Brakes Had Sales of $200,000 Last Year

Multiple Choice

Standard Brakes had sales of $200,000 last year. It also has a cash total of $75,000, stocks and bonds of $50,000, and accounts receivable of $40,000. Standard has accounts payable of $50,000, notes payable of $125,000, and bonds payable of $175,000. Calculate the quick ratio for the company.

A) .47
B) 1.04
C) 1.22
D) 1.14
E) .94