Given the following information, what is the firm’s quick ratio?

Given the following information, what is the firm’s quick ratio?

BALANCE SHEET INFORMATION

Cash = $1,160,000

Accounts receivable = (not given)

Inventory = $1,230,000

Fixed Assets = $4,470,000

Total assets = $7,700,000

Accounts payable = (not given)

Long-term debt = $2,300,000

Common stock = $770,000

Retained earnings = $3,570,000

Total liabilities and equity = $7,700,000

INCOME STATEMENT INFORMATION

Sales = $15,400,000

Operating expense = $12,780,000

EBIT = $2,620,000

Interest expense = $322,000

EBT = $2,298,000

Taxes = $919,000

Net Income = $1,379,000

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