Please use the following information (pertaining to Dance Company) to answer the next two questions. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit Please use the following information (pertaining to Dance Company) to answer the next two questions. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment... Total Assets $ 45,000 25,000 20,000 210,000 $300 000 Liabilities and Stockholders' Equity Current liabilities $ 50,000 Long-term liabilities 90,000 Stockholders' equity-common 160,000 Total Liabilities and Stockholders' Equity $300.000 Income Statement Sales $ 120,000 Cost of goods sold 66.000 Gross margin 54,000 Operating expenses 30.000 Net income $24.000 Number of shares of common stock Market price of common stock Dividends per Share on common stock Cash provided by operations 6,000 $20 50 $40,000 Cost of goods sold. Gross margin Operating expenses. Net income 4,000 66,000 54,000 30,000 $ 24,000 6,000 $20 Number of shares of common stock Market price of common stock Dividends per share on common stock Cash provided by operations. .50 $40,000 What is the current ratio for Dance Company? 1.30 180 O 064 1.40 Question 9 (1 point)