Sales Cost of goods sold Gross margin Income Statement $180,000 90,000 $90,000 Operating expenses 40,000 Net income Number of shares of common stock Market price of common stock What is the current ratio? 1.58 0.67 1.17 1.42 $50,000 12,000 $40 Sales Cost of goods sold Gross margin Income Statement $180,000 90,000 $90,000 Operating expenses 40,000 Net income Number of shares of common stock Market price of common stock What is the current ratio? 1.58 0.67 1.17 1.42 $50,000 12,000 $40 Idaho Company's financial information is listed below. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory $ 80,000 60,000 50,000 Property, plant, and equipment 430,000 $620,000 Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-Common Total liabilities and stockholders' equity $ 120.000 190.000 310,000 $620,000