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Demonstrate the number of current ratio as of december

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Reference no: EM132683377

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                              39,000         $24,000

Accounts Receivable.           58,000        52,000

Inventory                           56,000       48,000

Current Liabilities                  62,000      42,000

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

Cost of Goods Sold              288,000        265,000

Problem 1: 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: EM132683377

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