QUESTION 19 In horizontal analysis, each item is expressed as a percentage of the a. net income figure b. total assets figure c. retained earnings figure d. base year figure QUESTION 20 $ 30,000 35,000 7,000 25,000 40,000 72,000 100,000 75,000 36,000 20,000 400,000 2,000 Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Based on the above data, what is the quick ratio, rounded to one decimal point? a. 1.1 b, 1.0 d.2.9