The Young Company Has the Following Assets and Liabilities Determine the Quick Ratio (Rounded to One Decimal Point)

Multiple Choice

The Young Company has the following assets and liabilities:
$$\begin{array} { | l | r | } \hline { \text { ASSETS } } & \\\hline \text { Cash } & \$ 35,000 \\\hline \text { Accounts receivable } & 15,000 \\\hline \text { Inventory } & 30,000 \\\hline \text { Equipment } & 50,000 \\\hline { \text { LIABILITIES } } & \\\hline \text { Current portion of long-term debt } & 10,000 \\\hline \text { Accounts payable } & 2,000 \\\hline \text { Long-term debt } & 25,000 \\\hline\end{array}$$
Determine the quick ratio (rounded to one decimal point) .

A) 6.7
B) 13.0
C) 4.2
D) 3.5