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Determine the number of current ratio as of december

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Reference no: EM132546400

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                                        37,000                    $24,000

Accounts Receivable                  46,000                       52,000

Inventory                                 46,000                        48,000

Current Liabilities                        92,000                           42,000

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

Cost of Goods Sold                         288,000                        265,000

Question 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: EM132546400

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