A company has $56,000 in cash; $16,000 in Accounts Receivable; $25,000 in short-term investments and $100,000 in merchandise inventory. The company also has $55,000 in current liabilities. What is the company's quick ratio? (Round your final answer to two decimal places.)
A) 3.58
B) 1.76
C) 1.31
D) 1.02
B) 1.76
Explanation: (cash + A/R + investments)/current liabilities; ex: ($56,000 + $16,000 + $25,000) / $56,000 = 1.76
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