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The following financial information is for Chesapeake Corporationarefor the fiscal years ending 2018 & 2017 (all balances are normal): Item/Account 2018 2017 Cash 21,000 $24,000

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

Item/Account

2018

2017

Cash

21,000

$24,000

Accounts Receivable

57,000

52,000

Inventory

49,000

48,000

Current Liabilities

94,000

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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