Multiple Choice Question 118

Using the following balance sheet and income statement data, what is the current ratio?

Current assets	$35000		Net income	$42500
Current liabilities	14800		Stockholders' equity	77000
Average assets	159300		Total liabilities	43400
Total assets	124000

Average common shares outstanding was 14700.

0.4 : 1

2.7 : 1

2.9 : 1

2.4 : 1