The following balance sheet information is provided for Duke Company for Year 2: Assets Cash$7000? Accounts receivable 13,150? Inventory 15,500? Prepaid expenses 2300? Plant and equipment, net of depreciation 20,200? Land 14,100? Total assets$72,250? Liabilities and stockholders' Equity Accounts payable$3210? Salaries payable 7530? Bonds payable (due in ten years) 15,500? Common stock, no par 13,000? Retained earnings 33,010? Total liabilities and stockholders' equity$72,250? What is the company's current ratio? (Round your answer to 2 decimal places.)
A. 1.88
B. 0.77
C. 3.53
D. 1.36
Answer: C
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