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Find the number of current ratio as of december

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Reference no: EM132585325

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                              34,000                $24,000

Accounts Receivable            54,000                52,000

Inventory                          57,000                48,000

Current Liabilities                 94,000                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: EM132585325

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