Elli Company reports the following year-end balance sheet data. The company's current ratio equals:
Cash
Accounts receivable
Inventory
Equipment
Total assets
$ 50,000 Current liabilities
65,000 Long-term liabilities
70,000 Common stock
155,000 Retained earnings
$340,000 Total liabilities and equity
$ 85,000
42,000
110,000
103,000
$ 340,000