USE THE FOLLOWING INFORMATION FOR QUESTION 3:

Data for BikeNet Logistics most recent balance sheet and income statement is presented below:
Sales	$723,000
Cost of goods sold	614,550
Interest expense	33,000
Net income	$ 75,450
Cash & Mkt securities	$ 120,000
Accts Receivables	210,000		Accounts payable	$ 92,000
Inventories	183,000
			Long-term debt	100,000
Net fixed assets	320,000		Common equity	641,000
Total assets	$833,000		Total liab. and equity	$833,000

3. Compute BikeNets quick ratio (and times-interest-earned (TIE) ratio:

A) Quick: 1.47, TIE 3.03

B) Quick: 3.59, TIE 3.29

C) Quick: 5.13, TIE 3.03

D) Quick: 8.33, TIE 2.29