Current Ratio Calculation for Company X

In the context of financial analysis, ratio analysis is a fundamental tool used to evaluate a company's performance. One of the key ratios used is the current ratio, which measures a company's ability to pay short-term obligations.

The current ratio is calculated using the following formula:

Current Ratio = Current Assets / Current Liabilities

Consider Company X, which has current assets worth $150,000 and current liabilities totaling $100,000. What is the current ratio for Company X?