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The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below. Assets Liabilities and Equity Current assets: Current liabilities: Cash $

The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.

Assets Liabilities and Equity
Current assets: Current liabilities:
Cash $ 78 Accounts payable $ 231
Accounts receivable (net) 184 Other current liabilities 78
Notes receivable 57 Total current liabilities 309
Inventory 211 Long-term liabilities 107
Prepaid expenses 42 Total liabilities 416
Total current assets 572 Shareholders' equity:
Equipment (net) 274 Common stock 143
Retained earnings 287
Total shareholders' equity 430
Total assets $ 846 Total liabilities and equity $ 846

The current ratio is (Round your answer to 2 decimal places.):

Multiple Choice

  • 0.68.

  • 1.38.

  • 2.09.

  • 1.85.

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