Refer to the following selected financial information from Texas Electronics. Compute the company’s current ratio for Year 2. Year 2 Year 1Cash $ 39,500 $ 34,250Short-term investments 110,000 70,000Accounts receivable, net 95,500 89,500Merchandise inventory 131,000 135,000Prepaid expenses 14,100 11,700Plant assets 398,000 348,000Accounts payable 103,400 117,800Net sales 721,000 686,000Cost of goods sold 400,000 385,000Multiple Choice2.51.2.71.3.64.2.37.3.77.