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The XYZ company has the following assets and liabilities: Cash 29,000, Accounts receivables 114,000, Merchandise Inventory 113,000 and Prepaid expenses 6,000. Accounts payable 73,000, Unearned

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The XYZ company has the following assets and liabilities: Cash 29,000, Accounts receivables 114,000, Merchandise Inventory 113,000 and Prepaid expenses 6,000. Accounts payable 73,000, Unearned Revenue 27,000, Notes Payable 42,000. Calculate Current Ratio. If industry average of Current Ratio is 0.60, Is it good or Bad for the Company

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