Based on the following data what is the quick ratio rounded

Based on the following data, what is the quick ratio, rounded to one decimal point?

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Accounts payable	$30,000
Accounts receivable	55,000
Accrued liabilities	5,000
Cash	30,000
Intangible assets	50,000
Inventory	69,000
Long-term investments	80,000
Long-term liabilities	100,000
Marketable securities	30,000
Fixed assets	670,000
Prepaid expenses	1,000

Solution

Quick ratio = Quick Assets /Current Liabilities = $       1,15,000 / $       35,000 = 3.3 Working: a. Calculation of quick assets: b. Calculation of current liabilities: Accounts Receivable           55,000 Accouns Payable      30,000 Cash           30,000 Accrued Liabilities         5,000 Marketable securities           30,000 Total Quick Assets        1,15,000 Total Current Liabilities      35,000 Note:Quick assets does not considers Inventory and Prepaid Expenses.