Current Attempt in Progress The following information pertains to Sunland Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on account. Assets Cash and short-term investments $ 40000 Accounts receivable (net) 31000 Inventory 22000 Property, plant and equipment (net) 213000 Total Assets $306000 Liabilities and Stockholders' Equity Current liabilities $ 50000 Long-term liabilities 97000 Stockholders' equity-common 159000 Total Liabilities and Stockholders' Equity $306000 5 23 Income Statement Sales revenue $ 120000 Cost of goods sold 60000 Gross profit 60000 Operating expenses 34000 Net income $ 26000 Number of shares of common stock outstanding 6300 Market price of common stock $20 Dividends paid per share of common stock $0.50 Cash provided by operations $39000 What is Sunland's current ratio for the period? Operating expenses 34000 Net income $ 26000 Number of shares of common stock outstanding 6300 Market price of common stock $20 Dividends paid per share of common stock $0.50 Cash provided by operations $39000 What is Sunland's current ratio for the period? O 1.42 O 1.24 O 1.86 O 0.80