l Or Calculator Use the information below for Harding Company to answer the ques

Question

l Or Calculator Use the information below for Harding Company to answer the question that follow. Harding Company 40,000 65,000 7,000 30,000 40,000 72,000 110,000 75,000 36,000 30,000 625,000 2,000 Accounts payable Accounts receivable Accrued llabilities Cash Intangible assets Long-term investments Long-term liabilities Marketable securitles Notes payable (short-term) Property, plant, and equipment c) Prepaid expenses Based on the data for Harding Company, what is the quick ratio, rounded to one decimal point? Oa. 0.9 Ob. 1.7 Oc. 2.7 d. 2.6 25

Explanation / Answer

b. 1.7

Quick ratio = Quick assets / Current liabilities

= ($65,000 + $30,000 + $36,000) / ($40,000 + $7,000 + $30,000)

= $131,000 / $77,000

= 1.7

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