WILMINGTON CORPORATION Balance Sheet Dec. 31, Year 7 Dec. 31, Year 6 Current Assets Cash and cash equivalents $576,843 $305,088 Marketable securities 166,106 187,064 Accounts receivable (net) 258.387 289,100 Inventories 424,493 391,135 Prepaid expenses 55,369 25,509 Other current assets 83,053 85,029 Total Current Assets 1,564,251 1,282,925 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,516,471 $2,333,346 Current Liabilities Short-term borrowings $306,376 $170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 254,111 286,257 Accrued liabilities 273,658 166,983 Income taxes payable 97,735 178,911 Total Current Liabilities 1,086,880 970,570 Long term debt 500,000 300,000 Deferred income taxes 215,017 262,404 Total Liabilities 1,801,897 1,532,974 Common stock $425,250 $125,000 Additional paid-in capital 356,450 344,335 Retained earnings 932,874 331,037 Total Stockholders' Equity 1.714,574 800,372 Total Liabilities and Stockholders' Equity 53,516,471 $2,333,346 Selected Income Statement Data for the year ending December 31, Year 7 Net sales Cost of goods sold Selling expenses Operating income Interest expense Earnings before income taxes Income tax expense Net income $4,885 340 (2.942,353) (884,685) 1,058,302 (55,240) 1,003,062 (401,225) $601,837 Selected Statement of Cash Flow Data for the year ending December 31, Year 7 Cash flows from operations Capital expenditures $1,456,084 $745,862 Required Wilmington Corporation's current ratio in Year 7 was: Select one: a. 1.95 b. 0.87 c. 0.69 d. 1.44