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Use the Information Below for Harding Company to Answer the Questions

question 165

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Use the information below for Harding Company to answer the questions that follow.

 Harding Company \text { Harding Company }
 Accounts payable 40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term)  30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000\begin{array}{lr}\text { Accounts payable } & 40,000 \\\text { Accounts receivable } & 65,000 \\\text { Accrued liabilities } & 7,000 \\\text { Cash } & 30,000 \\\text { Intangible assets } & 40,000 \\\text { Inventory } & 72,000 \\\text { Long-term investments } & 110,000 \\\text { Long-term liabilities } & 75,000 \\\text { Marketable securities } & 36,000 \\\text { Notes payable (short-term) } & 30,000 \\\text { Property, plant, and equipment } & 625,000 \\\text { Prepaid expenses } & 2,000\end{array}
-Based on the data for Harding Company, what is the quick ratio, rounded to one decimal point?

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Definitions:

Notify Seller

The act of informing the seller about a relevant event, decision, or action, often as required by the terms of a contract or agreement.

Defective Goods

refers to products that are flawed and do not meet the quality or safety standards expected, potentially causing harm or not performing as intended.

Reasonable Time

A legally acceptable period of time that is fair and appropriate under the circumstances for performing a particular act or obligation.

Sport Goggles

Protective eyewear designed specifically for use during sports activities to safeguard the eyes from injury.

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