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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 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.)
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