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The following information pertains to Cheyenne Corp.. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were

The following information pertains to Cheyenne Corp.. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 39000 Accounts receivable (net) 51000 Inventory 48000 Property, plant and equipment 244000 Total Assets $382000 Liabilities and Stockholders Equity Current liabilities $ 72000 Long-term liabilities 77000 Stockholders equitycommon 233000 Total Liabilities and Stockholders Equity $$382000 Income Statement Sales revenue $92000 Cost of goods sold 44000 Gross profit 48000 Operating expenses 25000 Net income $ 23000 Number of shares of common stock 17000 Market price of common stock $27 Dividends per share on common stock 2 Cash provided by operations $48000 What is the current ratio for this company?

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