The following information pertains to Tanzi 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	$36,666
Accounts receivable (net)	$31,813
Inventory	$29,912
Property, plant and equipment	$294,937
Total Assets	$393,328
Liabilities and Stockholders' Equity
Current liabilities	$57,852
Long-term liabilities	$98,645
Stockholders' equity-common	$236,831
Total Liabilities and stockholders' equity	$393,328
Income Statement
Sales	$80,267
Cost of goods sold	$36,120
Gross margin	$44,147
Operating expenses	$24,810
Net income	$19,337
Number of shares of common stock	$5,713
Market price of common stock	$29

What is the current ratio for this company?

Select the correct answer.

1.70

2.22

0.63

1.18