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What is the companys quick ratio

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As of December 31, the Stanford company has the following information.

Cash                                      $5,000

Accounts Receivable                 15,000

Inventory                                40,000

Prepaid Insurance                       3000

Long-term Assets                    100,000

Accounts Payable                     15,000

Notes Payable in 5 Months         12,500

Salary Payable                         25,000

Notes Payable in 5 Years             35,000

Owner's Equity                           98,000

Question 1. What is the company's Quick Ratio?

Reference no: EM132461234

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