Note: Use the Comerstone Co. data and the Reference Sheet to assist you in answering the following question, Cornerstone Co. Balance Sheet Accounts 12/31/17 Bonds Payable $2,100 Cash 400 Accounts Receivable 145 Preferred Stock 500 Accounts Payable 244 Land 3,285 Common Stock 1.200 Inventory 480 Retained Earnings 320 Uneared Rent Revenue to be earned in 2 months) 40 Prepaid Insurance (3-month policy) 114 Taxes Payable 20 12/31/18 $2,100 392 128 500 250 3,285 1,200 520 400 28 173 20 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 560 32 1,500 25 2,000 27 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Shareholders 2018 Common Shares outstanding 2018 Preferred Shares outstanding 2018 Stock Price Other Information 540 $200 100sh 50sh $100 All Sains and Taxes Payable 20 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 Insurance Expense Interest Expense Cost of Goods Sold Rent Revenue Net Sales Revenue Tax Expense $60 32 1,500 25 2,000 27 Other Information 2018 Dividends to Common Shareholders 2018 Dividends to Preferred Shareholders 2018 Common Shares outstanding 2018 Preferred Shares outstanding 2018 Stock Price $40 $200 100sh 50sh $100 All Sales on credit What is the Current Ratio at 12/31/18? O a. 2.33 O b. 1.88 O c. 4.49 O d. 3.49 O e. 4.07