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How do find the number of current ratio as of december

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Reference no: EM132695890

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: EM132695890

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