A company's year-end balance sheet is shown below: Assets
| Liabilities and
shareholder equity
|
|---|
Cash | $ 300,000 | Current liabilities | $ 700,000 | Accounts receivable | 350,000 | Long-term liabilities | 600,000 | Inventory | 600,000 | Common stock | 800,000 | Property, plant, and equipment (net) | 2,000,000 | Retained earnings | 1,150,000 | | $ 3,250,000 | | $ 3,250,000 |
What is the current ratio as of December 31?
|
a. | 0.43 | |
b. | 0.67 | |
c. | 1.79 | |
d. | 0.93 |
|
