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Underwood Boutique reported the following financial data for 2017 and 2016. UNDERWOOD BOUTIQUE Balance Sheet (partial) September 30 (in thousands) 2017 2016 Current assets $2,615

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Underwood Boutique reported the following financial data for 2017 and 2016. UNDERWOOD BOUTIQUE Balance Sheet (partial) September 30 (in thousands) 2017 2016 Current assets $2,615 Cash and short-term deposits $1,060 3,500 2,780 Accounts receivable 2,635 1,930 Inventories 260 420 Other current assets $6,750 $8,450 Total current assets $5,440 $5,230 Current liabilities M Your answer is correct Calculate the current ratio for Underwood Boutique for 2017 and 2016. (Round answers to 2 decimal places, 1.25:1) 2017 2016 Current ratio 1.55.1 1.29 :1

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