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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 2017Cash 25,000 $24,000Accounts Receivable 60,000 52,000Inventory 44,000 48,000Current Liabilities 83,000 42,000Net Sales (all credit) 550,000 485,000Cost 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.)
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