1. From the chart below, what is the correct Quick Ratio? Round to two decimal places

Current Assets	$3,350
Total Assets	$4,200
Operating Profit	$1,475
Debt	$975
Net Income	$1,225
Inventory	$450
Cost of Goods Sold	$800
Sales	$2,200
Current Liabilities	$2,000
Total Equity	$1,525
Total Liabilities and owners equity	$2,500

2. High Inventory Turnover implies weak sales and, excess inventory.

True

False

3. The higher the Total Asset Turnover is, the more effective use of the companys investments Total Assets have become.

True

False

4. A lower times interest earned ratio indicates that the companys interest expense is low relative to its earnings before interest and taxes

True

False