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How to determine the number of current ratio as of december

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Reference no: EM132574861

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                                           31,000                24,000

Accounts Receivable                     53,000               52,000

Inventory                                   47,000                 48,000

Current Liabilities                           95,000                 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: EM132574861

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