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. $The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. \begin{array} { l r } \text { Gross profit } & 40,000 \\ \text { Operating expenses } & 20,000 \\ \text { Net income } & \$ 20,000 \\ & \\ \text { Number of shares of common stock } & 6,000 \\ \text { Market price of common stock } & \$ 20 \\ \text { Dividends per share on common stock } & 0.90 \\ \text { Cash provided by operations } & \$ 30,000 \end{array} What is the current ratio for this company? A) 1.42 B) 0.80 C) 1.16 D) 0.60$

\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

An Inexperienced Accountant for CJS Transport Corporation Showed the Following

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