Based on the following information, compute the (1) current ratio

The following information is available for Edmiston Company
May 5, 2020
F12… On October 1, Freed Supply had an inventory of 15 backpacks
May 5, 2020

Based on the following information, compute the (1) current ratio

and (2) working capital. (Round current ratio to 1 decimal place, e.g. 52.5.)

Current assets$200,000
Total assets900,000
Current liabilities80,000
Total liabilities500,000

 
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