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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 24,000 $24,000
Accounts Receivable 45,000 52,000
Inventory 43,000 48,000
Current Liabilities 82,000 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.)
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