The following balance sheet information is provided for Duke Company for Year 2:

Assets
Cash	$7,400
Accounts receivable	13,550
Inventory	15,700
Prepaid expenses	2,500
Plant and equipment, net of depreciation	20,400
Land	14,300
Total assets	$73,850
Liabilities and Stockholders' Equity
Accounts payable	$3,330
Salaries payable	7,330
Bonds payable (due in ten years)	16,500
Common stock, no par	12,000
Retained earnings	34,690
Total liabilities and stockholders' equity	$73,850

What is the company's current ratio? (Round your answer to 2 decimal places.)

Multiple Choice

• 0.77

• 1.97

• 1.35

• 3.67