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Compute Chavez Company's current ratio using the following information.
Accounts receivable . . . . . . . . . . . . . . $18,000Long-term notes payable . . . . . . . . . . $21,000Accounts payable . . . . . . . . . . . . . . . . . 11,000Office supplies . . . . . . . . . . . . . . . . . . . . . 2,800Buildings . . . . . . . . . . . . . . . . . . . . . . . . 45,000Prepaid insurance . . . . . . . . . . . . . . . . . . . 3,560Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,000Unearned services revenue . . . . . . . . . . . . 3,000
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