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Evaluate the number of current ratio as of december

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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                             25,000          $24,000
Accounts Receivable       60,000            52,000
Inventory                     44,000               48,000
Current Liabilities            83,000             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: EM132752572

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