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Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio...

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Accounting

Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2.

Year 2 Year 1 Cash $ 38,100 $ 32,850

Short-term investments 96,000 63,000

Accounts receivable, net 88,500 82,500

Merchandise inventory 124,000 128,000

Prepaid expenses 12,700 10,300

Plant assets 391,000 341,000

Accounts payable 110,400 110,800

Net sales 714,000 679,000

Cost of goods sold 393,000 378,000

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