13. The balance sheet for the Nostalgic Restorations Corporation is as follows:

Assets

Cash Government bonds (6-month maturity) Accounts receivable Inventory Equipment (net of depreciation) Total

Liabilities

Accounts payable NP current portion Long-term debtEquity

Retained earnings Total

$120,000 $ 24,000 $ 46,000 $ 35,000 $ 69,000 $294,000

$ 40,000 $ 35,000 $ 84,000

$135,000 $294,000

Determine the current ratio for the Nostalgic Restorations Corporation.

a) 1:2 b) 1:3 c) 3:1 d) 2:1