Problem:
Morgan's Industrial Park has total assets of $541,700, long-term debt of $201,400, total equity of $306,800, fixed assets of $469,200, and sales of $600,500. The profit margin is 7 percent.
Required:
Question: What is the current ratio?
A) 2.16
B) 0.91
C) 1.01
D) 0.46
E) 1.59
Note: Please answer in proper manner and show all computations