Alpha Company Provided the Following Balance Sheet for Year 2

Alpha Company provided the following balance sheet for Year 2: $\begin{array}{lr}\text { Assets }\\\text { Cash } & \$ 4,800 \\\text { Accounts receivable } & 6,950 \\\text { Inventory } & 10,750 \\\text { Prepaid expenses } & 1,800 \\\text { Plant and equipment, net of depreciation } &30,400 \\\text { Land } & \underline{ 23,000 }\\\text { Total assets } &\underline{ \$77,700}\\\text { Liabilities and Stockholders' Equity }\\\text { Accounts payable } & \$ 3,100 \\\text { Salaries payable } & 6,900 \\\text { Bonds payable (Due in ten years) } & 13,000 \\\text { Common stock, no par } &17,000 \\\text { Retained earnings } &\underline{ 37,700} \\\text { Total liabilities and stockholders' equity }& \$77,700\end{array}$

What is the company's plant assets to long-term liabilities ratio?

A) 1.31
B) 2.34
C) 2.85
D) None of these answers are correct.