A company's assets consist of $200,000 of cash, $400,000 of accounts receivable, $600,000 of inventory, and $1,500,000 of plant and equipment. Its liabilities consist of $100,000 of accounts payable, $150,000 of accruals, and $800,000 of long-term debt. The company's annual sales are $5,000,000, its earnings before interest and taxes are $700,000, and its net income is $300,000. What is the company's current ratio? 1) 4.6 2) 4.8 3) 5.0 4) 5.2 5) 4.4