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-Refer to the Following Selected Financial Information from McCormik,LLC

question 70

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 Year 2  Year 1  Cash $37,50036,850 Short-term investments 90,00090,000 Accounts receivable, net 85,50086,250 Merchandise inventory 121,000117,000 Prepaid expenses 12,10013,500 Plant assets 388,000392,000 Accounts payable 113,400111.750 Net sales 711,000706,000 Cost of goods sold 390,000385,500\begin{array} { | l | r | r | } \hline&{ \text { Year 2 } } & { \text { Year 1 } } \\\hline \text { Cash } & \$ 37,500 & 36,850 \\\hline \text { Short-term investments } & 90,000 & 90,000 \\\hline \text { Accounts receivable, net } & 85,500 & 86,250 \\\hline \text { Merchandise inventory } & 121,000 & 117,000 \\\hline \text { Prepaid expenses } & 12,100 & 13,500 \\\hline \text { Plant assets } & 388,000 & 392,000 \\\hline \text { Accounts payable } & 113,400 & 111.750 \\\hline \text { Net sales } & 711,000 & 706,000 \\\hline \text { Cost of goods sold } & 390,000 & 385,500 \\\hline\end{array}
-Refer to the following selected financial information from McCormik,LLC.Compute the company's current ratio for Year 2.

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