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Determine the number of current ratio as of December

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Reference no: EM132229193

Question - The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):

Item/Account 2018 2017

Cash 27,000 $24,000

Accounts Receivable 54,000 52,000

Inventory 46,000 48,000

Current Liabilities 68,000 42,000

Net Sales (all credit) 550,000 485,000

Cost of Goods Sold 288,000 265,000

Use this information to determine the number of current ratio as of December 31, 2018: (Round & enter your answers to one decimal place and enter the value.)

Reference no: EM132229193

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