The Following Information Pertains to Unique Company What Is the Current Ratio for This Company?
A) 1

Multiple Choice

The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. $$\begin{array} { l r } \text { Gross profit } & 40,000 \\\text { Operating expenses } & 20,000 \\\text { Net income } & \$ 20,000 \\& \\\text { Number of shares of common stock } & 6,000 \\\text { Market price of common stock } & \$ 20 \\\text { Dividends per share on common stock } & 0.90 \\\text { Cash provided by operations } & \$ 30,000\end{array}$$ What is the current ratio for this company?

A) 1.42
B) 0.80
C) 1.16
D) 0.60