Balance Sheet Current year $ Previous year $ Cash at bank 330,000 290,000 Short-term investments 120,000 128,000 Accounts reveivable, net 94,000 82,000 Inventory 65,000 59,000 Prepaid expenses 17,000 19,000 Total Current Assets 626,000 578,000 Total Current Liabilities 587,000 439,000 Income Statement Net Credit Sales 793,000 Cost of Goods Sold 345,000 The current ratio for the current year is: