At December 31, 2011, Rey’s quick (acid-test) ratio was

a. 1.50 to 1.

b. 1.75 to 1.

c. 2.06 to 1.

d. 3.10 to 1.

Items are based on the following:
Rey, Inc.
SELECTED FINANCIAL DATA December 31, 2011 2010 Cash $ 170,000 $ 90,000 Accounts receivable (net) 450,000 400,000 Merchandise inventory 540,000 420,000 Short-term marketable securities 80,000 40,000 Land and building (net) 1,000,000 1,000,000 Mortgage payable—current portion 60,000 50,000 Accounts payable and accrued liabilities 240,000 220,000 Short-term notes payable 100,000 140,000 Net credit sales totaled $3,000,000 and $2,000,000 for the years ended December 31, 2011 and 2010, respectively.