A credit analyst is reviewing the parameters of Altman's Z-Score model. Which combination of financial ratios is ALL correctly considered within the 5-variable formula?

Option B correctly identifies three of the five required variables:   The original Z-score formula was as follows: Z = 1.2X1 + 1.4X2 + 3.3X3 + 0.6X4 + 1.0X5. X1 = working capital / total assets. Measures liquid assets in relation to the size of the company. X2 = retained earnings / total assets. Measures profitability that reflects the company's age and earning power. X3 = earnings before interest and taxes / total assets. Measures operating efficiency art from tax and leveraging factors. It recognizes operating earnings as being important to long-term viability. X4 = market value of equity/book e of total liabilities. Adds market dimension that can show up security price fluctuation as a possible red flag. X5 = sales / total assets. The standard measure for total asset turnover (varies greatly from industry to industry).