1. Brock Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit.

   Assets
   Cash and short-term investments		$ 40,000
   Accounts receivable (net)		30,000
   Inventory		25,000
   Property, plant, and equipment		215,000
   Total assets		$310,000

   Liabilities and Stockholders' Equity
   Current liabilities			$ 60,000
   Long-term liabilities			95,000
   Stockholders' equityCommon			155,000
   Total liabilities and stockholders' equity			$310,000

   Income Statement
   Sales		$90,000
   Cost of goods sold		45,000
   Gross margin		$45,000
   Operating expenses		20,000
   Net income		$25,000

   Number of shares of common stock	6,000
   Market price of common stock	$20

   What is the current ratio?

   a.1.58

   b.1.42

   c.0.67

   d.1.17