What is the current ratio of Chester? Use the results of the Balance Sheet Surve

Question

What is the current ratio of Chester? Use the results of the Balance Sheet Survey Below.

Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris Cash $3,434 $0 $15,756 $3,605 $52,632 $5,613 Accounts Receivable $8,307 $14,914 $12,076 $9,550 $16,903 $4,576 Inventory $8,617 $25,931 $5,044 $3,491 $3,473 $10,616 Total Current Assets $20,358 $40,845 $32,876 $16,646 $73,008 $20,804 Plant and equipment $113,800 $177,400 $124,100 $122,200 $193,600 $78,300 Accumulated Depreciation ($37,933) ($76,903) ($33,454) ($40,920) ($71,416) ($42,600) Total Fixed Assets $75,867 $100,497 $90,646 $81,280 $122,184 $35,700 Total Assets $96,225 $141,342 $123,523 $97,926 $195,192 $56,504 Accounts Payable $6,583 $8,687 $11,450 $4,443 $10,571 $3,463 Current Debt $0 $12,555 $7,550 $10,000 $21,830 $9,975 Long Term Debt $41,700 $69,850 $56,850 $59,850 $59,643 $16,308 Total Liabilities $48,283 $91,092 $75,850 $74,293 $92,044 $29,747 Common Stock $18,360 $22,860 $22,775 $18,360 $24,310 $19,119 Retained Earnings $29,582 $27,391 $24,898 $5,273 $78,839 $7,638 Total Equity $47,942 $50,251 $47,673 $23,633 $103,148 $26,757 Total Liabilities & Owner's Equity $96,225 $141,342 $123,523 $97,926 $195,192 $56,504

Explanation / Answer

Current ratio = Total Current Assets /Current Liabilities = 32876/(11450+7550)= 1.73

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