Answer

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 35,000 $24,000 Accounts Receivable 43,000 52,000 Inventory 51,000 48,000 Current Liabilities 86,000 42,000 Net Sales (all credit) 550,000 485,000 Cost of Goods Sold 288,000 265,000 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.) Your