What is the Current Ratio of Chester? Select: 1 .53 .34 1.90 2.98 ASSETS 2018 20

Question

What is the Current Ratio of Chester? Select: 1 .53 .34 1.90 2.98 ASSETS 2018 2017 Common
Size Cash $11,348 9.5% $31,115 Accounts Receivable $18,918 15.8% $13,404 Inventory $43,157 36.2% $26,442 Total Current Assets $73,423 61.5% $70,961 Plant & Equipment $96,824 81.1% $96,824 Accumulated Depreciation ($50,864) -42.6% ($44,409) Total Fixed Assets $45,960 38.5% $52,415 Total Assets $119,383 100.0% $123,376 LIABILITIES & OWNERS' EQUITY Accounts Payable $13,739 11.5% $9,516 Current Debt $0 0.0% $15,717 Long Term Debt $26,919 22.5% $27,209 Total Liabilities $40,658 34.1% $52,442 Common Stock $12,079 10.1% $12,079 Retained Earnings $66,645 55.8% $58,854 Total Equity $78,724 65.9% $70,933 Total Liab. & O. Equity $119,383 100.0% $123,376 What is the Current Ratio of Chester? Select: 1 .53 .34 1.90 2.98

Explanation / Answer

Current ration of Chester

=Current assets÷Current liabilities

For year 2018

=$77961÷$27209

=2.87

For year 2017

=$73423÷$13739

=5.34

Calculation of current liabilities

For year 2018

= Account payble + current debts

=$9516+ $15717

=$25233

For year 2017

=Account payable

=$13739

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