The Following Information Pertains to Barnum Company: Balance Sheet
at $31,20 \times 2$

The following information pertains to Barnum Company: Balance Sheet
At D ecember $31,20 \times 2$
$\begin{array}{llll}\text { Current assets } & \$ 18,700 & \text { Current liabilities } & \$ 7,600 \\\text { Long-term assets } & \underline{29,700} & \text { Long- term liabilities } & 13,250 \\& & \text { Stockholders' eauity } & 27,550\\\text { Total assets }& \$ 8400 & \text { Total liabilities and s.e. } &\$ 48,400\\\end{array}$

Barnum Company Income Statement
For the Year Ended December 31, 20X2
$\begin{array}{ll}\text { Sales } & \$ 106,950 \\\text { Less: Cost of goods sold } & (61,800) \\\text { Gross profit } & \$ 45,150 \\\text { Less: Operating expenses } & \underline{31,700} \\\text { Operatingincome } & \$ 13,450 \\\text { Less other expenses: interest } & (1,300) \\\text { Income before taxes } & \$ 12,150 \\\text { Less: Income tax expense } & \underline{(4,850) } \\\text { Net income } & \$ 7,300\end{array}$ There were 1,000 shares of common stock outstanding with a market value of $75 as of December 31, 20X2. Dividends declared and paid was $5 per share. The current ratio for 20X2 is:

A) 0.90 times
B) 2.46 times
C) 1.00 times
D) 2.32 times