Reference no: EM132630696

A partial list shows that Charles Corporation's adjusted trial balance included the following items (all account balances are normal):

Accounts payable $42,500, Accounts receivable $58,500, Capital stock $100,000, Cash $52,000, Dividends $10,000, Interest expense $4,000, Interest payable $5,000, Inventory $32,000, Prepaid expenses $4,600, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000.

Problem 1: How much is Charle's current ratio? (Round your answer to two decimal places.)