Using the financial statements below, calculate the ratio listed.

Required:

Compute the Current ratio for the year of 2015 and 2014.

Cash Accounts receivable Inventory Prepaid insurance Equipment (net) Total Assets Accounts payable Interest payable Income taxes payable Bonds payable Common Stock Retained earnings Total Liab. & S. Equity 2015 $ 33,000 180,000 340,000 4,000 290,000 $ 847,000 170,200 2,800 9,440 280,000 100,000 284,560 $ 847,000 2014 $ 25,000 140,000 310,000 5,000 300,000 $ 780,000 220,000 2,800 8,000 280,000 100,000 169,200 $ 780,000