The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
|
Assets
|
|
Cash and short-term investments
|
$39,645
|
|
Accounts receivable (net)
|
34,673
|
|
Inventory
|
38,916
|
|
Property, plant and equipment
|
246,095
|
|
Total Assets
|
$359,329
|
|
|
|
Liabilities and Stockholders' Equity
|
|
Current liabilities
|
$62,478
|
|
Long-term liabilities
|
88,260
|
|
Stockholders' equity-common
|
208,591
|
|
Total Liabilities and stockholders' equity
|
$359,329
|
|
|
Income Statement
|
|
Sales
|
$90,774
|
|
Cost of goods sold
|
40,848
|
|
Gross margin
|
$49,926
|
|
Operating expenses
|
24,465
|
|
Net income
|
$25,461
|
|
|
Number of shares of common stock
|
5,755
|
|
Market price of common stock
|
$34
|
What is the quick ratio for this company?