The following information pertains to Blue Flower Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

\begin{array}{lr}\text { Assets }\\\text { Cash and short-term investments } & \$ 45,000 \\\text { Accounts receivable (net) } & 30,000 \\\text { Inventory } & 15,000 \\\text { Property, plant and equipment } & 210,000 \\\text { Total Assets } & \$ 300,000 \\\\\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } & \$ 60,000 \\\text { Long-term liabilities } & 90,000 \\\text { Stockholders' equity-Common } & 150,000 \\\text { Total Liabilities and Stockholders' Equity } & \$ 300,000\\\\\text { Income Statement }\\\text { Sales revenue } & \$ 121,000 \\\text { Cost of goods sold } & 66,000 \\\text { Gross margin } & 55,000 \\\text { Operating expenses } & 30,000 \\\text { Net income } & \$ 25,000\\\\\text { Number of shares of common stock } & 6,000 \\\text { Market price of common stock } & \$ 20 \\\text { Dividends per share on common stock } & 50 \\\text { Cash provided by operations } & \$ 40,000\end{array}

What is the current ratio for this company?
A) 1.00
B) 1.25
C) 1.50
D) 0.67

Using These Data from the Comparative Balance Sheet of K

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