Reference no: EM132549797
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?