The following financial information is for Chesapeake Corporation are for the fiscal years ending 2020 & 2019 (all balan

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The following financial information is forChesapeake Corporation are for thefiscal years ending 2020 & 2019 (all balances are normal):
Item/Account
2020
2019
Cash
35,000
$24,000
Accounts Receivable
55,000
52,000
Inventory
52,000
48,000
Current Liabilities
66,000
42,000
Net Sales (all credit)
550,000
485,000
Cost of Goods Sold
288,000
265,000
Use this information to determine the number ofcurrent ratio as of December 31, 2020: (Round & enter youranswers to one decimal place and enter thevalue.)