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 account. Assets Cash and short-term investments $ 48000 Accounts receivable (net) 31000 Inventory 28000 Property, plant and equipment (net) 213000 Total Assets $320000 Liabilities and Stockholders' Equity Current liabilities $ 50000 Long-term liabilities 110000 Stockholders' equity-common 160000 Total Liabilities and Stockholders' Equity $320000 Income Statement Sales revenue $ 117000 Cost of goods sold 60000 Gross profit 57000 Operating expenses 26000 Net income $31000 Number of shares of common stock outstanding 6300 Market price of common stock $25 Dividends paid per share of common stock $0.50 Cash provided by operations $33000 What is Sheridan's current ratio for the period? O 2.14 1.52 O 0.96 O 1.58