Smith & Sons Balance Sheet As of December 31
Cash	$80,000		Current liabilities	$160,000
Accounts receivable	160,000		Bonds payable	240,000
Inventory	260,000		Common Stock	400,000
Plant assets (net)	500,000		Retained earnings	200,000
Total assets	$1,000,000		Total liabilities and stockholders' equity	$1,000,000

Sales revenue for the year was $1,600,000, gross profit was $640,000, and net income was $72,000. One year ago, accounts receivable were $152,000, inventory was $220,000, total assets were $920,000, and stockholders' equity was $520,000.

What was the companys current ratio?

Select one:

4.0

4.2

3.1

5.0