FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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    Use the information provided for Harding Company to answer the question that follow.

    Harding Company
    Accounts payable $33,234
    Accounts receivable 67,995
    Accrued liabilities 6,510
    Cash 22,738
    Intangible assets 35,347
    Inventory 83,390
    Long-term investments 101,069
    Long-term liabilities 79,156
    Notes payable (short-term) 27,161
    Property, plant, and equipment 689,074
    Prepaid expenses 2,037
    Temporary investments 30,842

    Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)?

    a.3.1
    b.0.8
    c.1.8
    d.15.4
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