The following financial information is for Chesapeake Corporation are for

the fiscal years ending 2018 & 2017 (all balances are normal):

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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2019-11-09 (4).png

Item/Account
2018
2017
Cash
37,000
$24,000
Accounts Receivable
52,000
52,000
Inventory
52,000
48,000
Current Liabilities
75,000
42,000
Net Sales (all credit)
550,000
485,000
Cost of Goods Sold
288,000
265,000