Chelsea Company presented the following data at the end of 2016: Cash $1,800,000 3,200,000 2,800,000 300,000 8,000,000 750,000 800,000 1,600,000 4,000,000 Accounts receivable Merchandise inventory Prepaid insurance Property & equipment Accounts payable Unearned revenue Wages payable Bonds payable Determine the current ratio for Chelsea Company (rounded).

Question 2 (10 points) Chelsea Company presented the following data at the end of 2016: Determine the current ratio for Chelsea Company (rounded)