The following information pertains to Ortiz Company. 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 $ 45,000 Accounts receivable (net) 30,000 Inventory 20,000 Property, plant and equipment 210,000 Total Assets $305,000 Liabilities and Stockholders Equity Current liabilities $ 50,000 Long-term liabilities 95,000 Stockholders equitycommon 160,000 Total Liabilities and Stockholders Equity $305,000 Income Statement Sales $ 120,000 Cost of goods sold 66,000 Gross profit 54,000 Operating expenses 30,000 Net income $ 24,000 Number of shares of common stock 6,000 Market price of common stock $20 Dividends per share .50 What is the current ratio for Ortiz?

Answer

	A)	1.90
	B)	1.50
	C)	1.30
	D)	.53