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The Chamberlain Corporation reported the following: Income Statement Year 3 Year...

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Accounting

The Chamberlain Corporation reported the following:

Income Statement Year 3 Year 2 Year 1
Revenue 12,300 10,800 8,900
Cost of goods sold 10,200 9,600 6,400
Selling & admin. expenses 950 800 1,200
Net Income 1,150 400 1,300
Balance Sheet Year 3 Year 2 Year 1
Assets
Cash 880 620 700
Accounts receivable 300 250 280
Inventory 3,200 3,000 2,800
Property & equipment (net) 9,930 9,810 10,400
Total Assets 14,310 13,680 14,180
Liabilities
Accounts payable 1,160 1,080 980
Long term liabilities 9,000 9,200 8,900
Stockholders' Equity
Common stock 3,000 3,000 3,000
Retained earnings 1,150 400 1,300
Total Liabilities and Equity 14,310 13,680 14,180

What is the company's the company's current ratio for year 2? As needed, round your final answer (but not intermediate steps) to two decimal places.

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