Mayfield Corporation has provided the following financial data:Assets Current assets: Cash$223,000 Accounts receivable, net 236,000 Inventory 202,000 Prepaid expenses 10,000 Total current assets 671,000 Plant and equipment, net 665,000 Total assets$1,336,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$156,000 Accrued liabilities 52,000 Notes payable, short term 45,000 Total current liabilities 253,000 Bonds payable 100,000 Total liabilities 353,000 Stockholders' equity: Common stock, $4 par value 360,000 Additional paid-in capital 80,000 Retained earnings 543,000 Total stockholders' equity 983,000 Total liabilities & stockholders' equity$1,336,000 The company's current ratio is closest to:
A. 0.50
B. 0.26
C. 2.65
D. 0.53
Answer: C
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