The following information pertains to Sheridan 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	$ 48000
Accounts receivable (net)	31000
Inventory	28000
Property, plant and equipment	213000
Total Assets	$320000
Liabilities and Stockholders Equity
Current liabilities	$ 50000
Long-term liabilities	110000
Stockholders equitycommon	160000
Total Liabilities and Stockholders Equity	$320000
Income Statement
Sales revenue	$ 117000
Cost of goods sold	60000
Gross margin	57000
Operating expenses	26000
Net income	$ 31000
Number of shares of common stock	6300
Market price of common stock	$25
Dividends per share on common stock	$0.50
Cash provided by operations	$33000

What is the current ratio for this company?

1.58

1.52

0.96

2.14