Refer to the following selected financial information from Texas Electronics. Compute the company’s current ratio for Ye

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Refer to the following selected financial information from Texas
Electronics. Compute the company’s current ratio for Year 2. Year 2
Year 1 Cash $ 39,100 $ 33,850 Short-term investments 106,000 68,000
Accounts receivable, net 93,500 87,500 Merchandise inventory
129,000 133,000 Prepaid expenses 13,700 11,300 Plant assets 396,000
346,000 Accounts payable 105,400 115,800 Net sales 719,000 684,000
Cost of goods sold 398,000 383,000