Below are the two most recent balance sheets and most recent income statement for Bearkat Industries. The company has an effective tax rate of 32% Balance Sheet 2019 2018 Asses: Cash $10,000 $ 6,000 Accounts Receivable (net) 6,000 1,500 Inventory 8,000 10,000 Fixed assets (gross) 11,000 10,000 Less. Accumulated depreciation (4.000 (2,000 Total assets $31.002 $25.500 Liabilities and Stockholders' Equity Accounts payable $ 5,000 $ 6,000 Deferred revenues 1,000 2,000 Long-term note payable 10,000 10,000 Less Discount on note payable (800) (1,000) Common stock 11,000 5.000 Retained earnings 4800 3.500 Total liabilities and stockholders equity $1.000 $25.5.00 Income Statement For the year ended December 31, 2019 Revenues Cost of goods sold Depreciation expense Interest expense Bad debt expense Other expense (including income taxes) Net income $42.000 (24.000) (2.000) (3.000) (2.000) (9.000) 5.2000 Based on the information above, the 2019 Quick ratio is: Enter your answer as a number with decimal places of precision te. 1.23)