Reference no: EM132551445

Conner Corporation's adjusted trial balance included the following items:

Accounts payable ($65,000),

Accounts receivable ($45,000),

Capital stock ($100,000),

Cash ($50,000),

Dividends ($10,000),

Goodwill ($47,000),

Interest expense ($4,000),

Interest payable ($2,000),

Inventory ($32,000),

Notes payable ($80,000),

Prepaid expenses ($5,000),

Property, plant & equipment ($123,000),

Retained earnings ($46,000),

Rent expense ($18,000),

Revenues ($101,000), and

Salary expense ($60,000).

Question 1: How much is Conner's quick ratio?