Reference no: EM132690352
A partial list shows that Charles Corporation's adjusted trial balance included the following items (all account balances are normal):
Accounts payable $47,000,
Accounts receivable $54,000,
Capital stock $100,000,
Cash $46,000, Dividends $10,000,
Interest expense $4,000,
Interest payable $5,000,
Inventory $32,000,
Prepaid expenses $5,000,
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.)