41. Franklin Company reports the following amounts: Cash: $2…
41. Franklin Company reports the following amounts: Cash: $20,000Short-term investments: $10,000Accounts Receivable: $30,000Inventory: $50,000Current liabilities: $40,000 For this question, quick assets include cash, short-term investments, and Accounts Receivable. Inventory is excluded. Use the following formula: Quick ratio = Quick assets ÷ Current liabilities What is Franklin Company’s quick ratio? 1. 1.00 2. 1.25 3. 1.50 4. 2.75 Instructions to students: Type in the number of the answer of your choice (type in either 1, 2, 3, or 4). Do not type in a decimal after inputting the number.