The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. What is the firm's current ratio? Balance Sheet (Millions of \$). Assets 2010 Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock Retained earnings Total common equity Total liabilities and equity \begin{tabular}{r} 2010 \\ $1,554.0 \\ 9,660.0 \\ 13,440.0 \\ $24,654.0 \\ 17,346.0 \\ $42,000.0 \\ $7,980.0 \\ 5,880.0 \\ 4,620.0 \\ $18,480.0 \\ 10,920.0 \\ $29,400.0 \\ 3,360.0 \\ 9,240.0 \\ \hline 12,600.0 \\ \hline 42,000.0 \end{tabular} Select one: A. 0.97 B. 1.08 C. 1.20 D. 1.33 E. 1.47