The financial statements of Clearwater Furniture Company include the following items:
20172016
Cash$63,500$51,000
Short-term Investments28,00017,000
Net Accounts Receivable 94,000106,000
Merchandise Inventory157,000143,000
Total Assets531,000544,000
Total Current Liabilities234,000217,000
Long-term Note Payable 62,00052,000
What is 2017 cash ratio? (Round your answer to two decimal places)
a. 0.21
b. 0.12
c. 0.39
d. 0.27
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