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Determine what is the current ratio

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Point 1: John Roe is attempting to categorize several items from his company's financial statements so he can determine his working capital. Joe notices the following categories of accounts and amounts:

cash, $3,878;

accounts payable, $10,399;

accounts receivable, $14,772;

sales taxes due city of Phoenix, $742;

sales taxes due the Arizona Department of Revenue, $3,514;

inventory, $16,500;

wages payable, $5,455;

taxes payable (federal), $2,867;

money market fund, $12,493; and

computer, $3,467.

Question 1: What is the Current Ratio? (Round your answer to four decimal's, i.e. 123.4567)

Reference no: EM132492451

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