Part A)

The following financial information isfor Chesapeake Corporationarefor the fiscal years ending 2018 & 2017 (all balances are normal):

Item/Account

2018

2017

Cash

24,000

$24,000

Accounts Receivable

54,000

52,000

Inventory

49,000

48,000

Current Liabilities

77,000

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.)

Part B)

On January 2, 2018, All Good Company purchased 5,000 shares of the stock of Big Bad Company, and DID obtain significant influence.The investment is intended as a long-term investment.The stock was purchased for $20 per share, and represents a 30% ownership stake.Big BadCompany made $400,000 of net income in 2018, and paid dividends to All Good Company of $25,000 on December 15, 2018.Big Bad Company's stock was trading on the open market for $20 per share at the end of the year.Use this information to determine the book value of the investment that should be reported at year end by All Good Company. Round to nearest whole dollar.