Partial information from Blain Company’s balance sheet is as follows:

Current Assets:

Cash $ 1,200,000 Marketable securities 3,750,000 Accounts receivable 28,800,000 Inventories 33,150,000 Prepaid expenses 600,000 Total current assets $67,500,000 Current Liabilities:

Notes payable $ 750,000 Accounts payable 9,750,000 Accrued expenses 6,250,000 Income taxes payable 250,000 Total current liabilities $17,000,000 What is Blain’s current ratio?

a. 0.25

b. 3.0

c. 1.8

d. 3.97