A snapshot of company's balance and income statement is given below. What is this company's current ratio during last year? WEST MOUNTAIN CONSTRUCTION BALANCE SHEET Current Last Year Year ASSETS CURRENT ASSETS Cash 32,387 34,826 Accounts Receivable-Trade 74,526 38,212 Accounts Receivable-Retention 4,235 Inventory 0 0 Costs and Profits in Excess of Billings 9,177 4,549 Notes Receivable 3,139 0 Prepaid Expenses 735 1,061 Other Current Assets 3,114 1,119 Total Current Assets 129.966 84,002 6,888 FIXED AND OTHER ASSETS Construction Equipment Trucks and Autos Office Equipment Total Fixed Assets Less Acc. Depreciation Net Fixed Assets Other Assets Total Assets 39,229 8.981 8,057 56,267 46,562 9,705 45.996 185,667 39,229 8,981 8,057 56,267 39,889 16,378 50,462 150,842 LIABILITIES Current Liabilities Accounts Payable-Trade Accounts Payable-Retention Billings in Excess of Costs and Profits Notes Payable Accrued Payables Accrued Taxes Accrued Vacation Other Current Liabilities Total Current Liabilities Long-Term Liabilities Total Liabilities 38,682 3,768 1,424 4,022 4,574 2,718 606 6,605 62,399 61,544 123,943 35,772 3,536 2,022 5,791 2,254 2,405 308 5,330 57,418 48,916 106,334 Owner's Equity Capital Stock Retained Earnings Current Period Net Income Total Equity Total Liabilities and Equity 10,000 51,724 0 61,724 185,667 10,000 34,508 0 44.508 150,842 WEST MOUNTAIN CONSTRUCTION INCOME STATEMENT REVENUE 789,839 CONSTRUCTION COSTS Materials Labor Subcontract Equipment Other Total Construction Costs 92,214 199,690 401,948 20,833 1,352 716,037 EQUIPMENT COSTS Rent and Lease Payments Depreciation Repairs and Maintenance Fuel and Lubrication Taxes, Licenses, and Insurance Equipment Costs Charged to Jobs Total Equipment Costs 3.773 6,673 2.734 7,289 364 20,833 0 GROSS PROFIT 73,802 OVERHEAD 53,827 NET PROFIT FROM OPERATIONS 19,975 OTHER INCOME AND EXPENSE 1,162 PROFIT BEFORE TAX 21,137 INCOME TAX 3,921 PROFIT AFTER TAX 17,216 1.50 2.08 1.46 1.42