Question
The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal): Item/Account 2018 2017 Cash
The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):
| Item/Account | 2018 | 2017 |
| Cash | 33,000 | $24,000 |
| Accounts Receivable | 45,000 | 52,000 |
| Inventory | 44,000 | 48,000 |
| Current Liabilities | 75,000 | 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.)
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
111919167X, 9781119191674
