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Use the information provided for Harding Company to answer the question that follow.
| Harding Company |
| Accounts payable | $37,620 |
| Accounts receivable | 73,878 |
| Accrued liabilities | 6,176 |
| Cash | 19,489 |
| Intangible assets | 35,380 |
| Inventory | 71,799 |
| Long-term investments | 91,279 |
| Long-term liabilities | 70,516 |
| Notes payable (short-term) | 23,666 |
| Property, plant, and equipment | 693,672 |
| Prepaid expenses | 2,542 |
| Temporary investments | 33,896 |
Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)?
a. 0.8
b. 1.9
c. 3
d. 15.1
Answer & Explanation
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