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Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 106 $ 136 Accounts receivable, net 132
Excerpts from Colter Corporation's most recent balance sheet appear below:
Year 2 | Year 1 | ||||||||||
Current assets: | |||||||||||
Cash | $ | 106 | $ | 136 | |||||||
Accounts receivable, net | 132 | 142 | |||||||||
Inventory | 218 | 208 | |||||||||
Prepaid expenses | 56 | 56 | |||||||||
Total current assets | 512 | 542 | |||||||||
Total current liabilities | $ | 384 | $ | 370 | |||||||
Sales on account in Year 2 amounted to $1,610 and the cost of goods sold was $960.
The current ratio at the end of Year 2 is closest to:
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