MARNI COMPANY Balance Sheet As of December 31 ASSETS Cash 50,000 Accounts receivable 100,000 Inventory 200,000 650,000 Net plant and equipment $1,000,000 Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable 100,000 Accrued expenses 90,000 Long-term debt Common stock 250,000 100,000 Paid-in capital 50,000 Retained earnings 410,000 $1,000,000 Total liabilities and stockholders' equity MARNI COMPANY Income Statement For the year ended December 31 Sales (all on credit) $2,000,000 1,750,000 Cost of goods sold Gross profit 250,000 Sales and administrative expenses 30,000 Fixed lease expenses 10,000 60,000 Depreciation Operating profit 150,000 25,000 Interest expense Profit before taxes 125,000 50,000 (40%) Taxes 75,000 Net income Refer to the tables above. Marni's current ratio is Multiple Choice 0.80:1 0.5:1 1.84:1 None of the options