The following information pertains to Ortiz Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

\begin{array}{lr}\text { Assets }\\\text { Cash and short-term investments } & \$ 45,000 \\\text { Accounts receivable (net) } & 30,000 \\\text { Inventory } & 20,000 \\\text { Property, plant and equipment } & 210,000 \\\quad \text { Total Assets } & \$ 305,000\end{array}

\begin{array}{ll}\text { Liabilities and Stockholders' Equity }\\ \text { Current liabilities } & \$ 50,000 \\ \text { Long-term liabilities } & 95,000 \\ \text { Stockholders' equity-common } & \underline{160,000} \\ \text { Total Liabilities and Stockholders' Equity } &\underline{ \$ 305,000 }\\\end{array}

\begin{array}{ll}\text { Income Statement }\\\text { Sales } &120,000\\\text { Cost of goods sold }& \underline{66,000} \\\text { Gross profit }&54,000 \\\text { Operating expenses }& \underline{30,000}\\\text { Net income } & \underline{\$ 24,000} \\\\\text { Number of shares of common stock } & 6,000 \\\text { Market price of common stock } & \$ 20 \\\text { Dividends per share } & .50\end{array}

What is the current ratio for Ortiz?
A) 1.90
B) 1.50
C) 1.30
D) .53

Using the Following Operating Data for Complex Corporation Illustrate Horizontal

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