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Freiman Corporation's most recent balance sheet and income statement appear below: Year 1 S 146 305 156 53 L wo 660 830 $ 1,490 Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Assets Current assets: Cash $ 186 Accounts receivable, net 285 Inventory 146 Prepaid expenses 53 Total current assets 670 Plant and equipment, net 830 Total assets $ 1,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 156 Accrued liabilities 103 Notes payable, short term 73 Total current liabilities 332 Bonds payable 319 Total liabilities 651 Stockholders' equity: Common stock, $2 par value 126 265 Additional paid-in capital Retained earnings 458 849 Total stockholders' equity Total liabilities & stockholders' equity $ 1,500 $ 176 103 83 362 329 691 126 265 408 799 $ 1,490 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) $ 1,830 Cost of goods sold 1,040 Gross margin 790 Selling and administrative expenses 424 Net operating income 366 Interest expense 61 Net income before taxes 305 Income taxes (30%) 92 Net income $ 213 The current ratio at the end of Year 2 is closest to: Multiple Choice 0.58 2.02 0.57 1.17