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Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 107 $ 137 Accounts receivable, net 134
Excerpts from Colter Corporation's most recent balance sheet appear below:
Year 2 | Year 1 | ||||||||||
Current assets: | |||||||||||
Cash | $ | 107 | $ | 137 | |||||||
Accounts receivable, net | 134 | 144 | |||||||||
Inventory | 221 | 211 | |||||||||
Prepaid expenses | 57 | 57 | |||||||||
Total current assets | 519 | 549 | |||||||||
Total current liabilities | $ | 388 | $ | 375 | |||||||
Sales on account in Year 2 amounted to $1,635 and the cost of goods sold was $975.
The current ratio at the end of Year 2 is closest to:
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