Following Are the Financial Statements for Starman Corporation for the Year

Following are the financial statements for Starman Corporation for the year ended December 31,20xx.Assume that all balance sheet amounts represent both average and ending figures. $\begin{array}{c}\text { Starman Corporation}\\\text { Balance Sheet}\\\text { December \( 31,20 \mathrm{xx} \) }\\\begin{array}{lr}&\text { Assets }&\\\text { Cash } && \$ 20,000 \\\text { Marketable securities } && 30,000 \\\text { Accounts receivable } && 50,000 \\\text { Inventory } && 100,000 \\\text { Long-term receivables } && 35,000 \\\text { Property, plant, and equipment } && \underline{65,000} \\\text { Total assets }& & \underline{\$ 300,000}\\&\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } && \$ 100,000 \\\text { Long-term liabilities } && 60,000 \\\text { Stockholders' equity } && 140,000 \\\text { Total liabilities and stockholders' equity } && \$ 300,000\end{array}\end{array}$

$\begin{array}{c}\text { Starman Corporation}\\\text { Balance Sheet}\\\text { December \( 31,20 \mathrm{xx} \) }\\\begin{array}{lcr}&\text { Assets }&\\\text { Cash } && \$ 20,000 \\\text { Marketable securities } && 30,000 \\\text { Accounts receivable } && 50,000 \\\text { Inventory } && 100,000 \\\text { Long-term receivables } && 35,000 \\\text { Property, plant, and equipment } && \underline{65,000} \\\text { Total assets }& & \underline{\$ 300,000}\\&\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } && \$ 100,000 \\\text { Long-term liabilities } && 60,000 \\\text { Stockholders' equity } && 140,000 \\\text { Total liabilities and stockholders' equity } && \$ 300,000\end{array}\end{array}$

What is the current ratio for this corporation? Round your answer to two decimal places.

A) 1.00 times
B) 1.54 times
C) 1.70 times
D) 2.00 times