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The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
Assets
Cash and short-term investments
$39,645
Accounts receivable (net)
34,673
Inventory
38,916
Property, plant and equipment
246,095
Total Assets
$359,329
Liabilities and Stockholders' Equity
Current liabilities
$62,478
Long-term liabilities
88,260
Stockholders' equity-common
208,591
Total Liabilities and stockholders' equity
Income Statement
Sales
$90,774
Cost of goods sold
40,848
Gross margin
$49,926
Operating expenses
24,465
Net income
$25,461
Number of shares of common stock
5,755
Market price of common stock
$34
What is the quick ratio for this company?
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