Exercise 8-25 (Part Level Submission) At December 31, 2015, Grouper Corporation reported current assets of $384,870 and current liabilities of $206,100. The following items may have been recorded incorrectly. 1. 2. 3. 4. Goods purchased costing $22,150 were shipped f.o.b. shipping point by a supplier on December 28. Grouper received and recorded the invoice on December 29, 2016, but the goods were not included in Groupers physical count of inventory because they were not received until January 4, 2017. Goods purchased costing $16,150 were shipped f.o.b. destination by a supplier on December 25. Grouper received and recorded the invoice on December 31, but the goods were not included in Grouper's 2015 physical count of inventory because they were not received until January 2, 2017. Goods held on consignment from Claudia Kishi Company were included in Grouper's December 31, 2016, physical count of inventory at $13,330. Freight-in of $2, 730 was debited to advertising expense on December 28, 2015. @Your answer is correct. Compute the current ratio based on Grouper's balance sheet. (Round ratio to 2 decimal places, e.g. 2.31:1.) The current ratio 1.87 Click if you would like to Show Work for this question: SHOW SOLUTION LINK TO TEXT @Your answer is correct. Open Show Work Attempts: 1 of 3 used Recompute the current ratio after corrections are made. (Round ratio to 2 decimal places, e.g. 2.31:1.) The current ratio 2.09