Exhibit 13-1
Xavier Company Reported the Following Income Statement and Balance

Exhibit 13-1
Xavier Company reported the following income statement and balance sheet amounts on December 31,2017.
$\begin{array}{lr}&\underline{2017}&\underline{2016}\\\text { Net sales revenue (all credit) } & \$ 1,700,000 \\\text { Cost of goods sold } & 1,040,000 \\ \text { Gross margin }& 660,000 \\\text { Selling and general expenses } & 420,000 \\\text { Interest expense } & \$ 0,000 \\\text { Net income } & \$ 180,000 \\\\ \text { Current assets } & \$ 100,000 & \$ 90,000 \\ \text { Long-term assets } & 830,000 & 800,000 \\ \text { Total assets } & \$ 930,000 & \$ 890,00 \\ \text { Current liabilities } & \overline{\$ 72,000} & \$ 56,00 \\ \text { Long-term liabilities } & 204,000 & 390,00 \\ \text { Common stockholders' equity } & 654,000 & 444,00 \\\text { Total liabilities and stockholders' equity } & \$ 930,000 & \$ 890,00 \\ \end{array}$
Inventory and prepaid expenses account for $50,000 of the 2017 current assets.
Average inventory for 2017 is $36,000.
Average net accounts receivable for 2017 is $62,000.
Average one-day sales are $5,900.
There are 12,000 shares of common stock outstanding at the end of 2017.
The market price per share of common stock is $27 at the end of 2017.
The EPS for 2017 is equal to $1.50 per share.
-Refer to Exhibit 13-1.What is the current ratio for 2017 (rounded to two decimal places) ?

A) 1.80
B) 0.72
C) 1.44
D) 1.39
E) None of the answer choices is correct.