Question 40 View Policies Current Attempt in Progress The following information pertains to Novak Corp. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 53800 Accounts receivable (net) I 35400 Inventory 26900 Property, plant and equipment 225000 $341100 Total Assets Liabilities and Stockholders' Equity Current liabilities $ 27000 Long-term liabilities 82300 Stockholders' equity-common 231800 Total Liabilities and Stockholders' Equity $341100 Income Statement $114000 Sales revenue 70400 Cost of goods sold Gross profit 43600 Operating expenses 35000 Net income $ 8600 Number of shares of common stock 11700 Market price of common stock $20 Dividends per share on common stock 3.00 Cash provided by operations $48000 What is the current ratio for this company? 3.30 1.99 4.30 3.22