Calculate the Current Ratio Using the Following Information A)23
B)1

Multiple Choice

Calculate the current ratio using the following information: $$\begin{array} { | l | l | } \hline \text { Cash } & \$ 7000 \\\hline \text { Accounts receivable } & 1400 \\\hline \text { Prepaid rent } & 800 \\\hline \text { Land } & 20,000 \\\hline \text { Equipment } & 6000 \\\hline \text { Accumulated depreciation } & 1200 \\\hline \text { Accounts payable } & 4000 \\\hline \text { Salaries payable } & 800 \\\hline \text { Loan payable, non-current } & 10,000 \\\hline\end{array}$$

A) 2.3
B) 1.92
C) 1.32
D) 1.75