Accounts payable $36,500, accounts receivable $46,500, capital stock $100,000, cash $46,000, dividends $10,000, goodwill $47,000, interest expense $4,000, interest payable $3,500, inventory $32,000, note payable $30,000, prepaid expenses $4,400, property, plant & equipment $123,000, retained earnings $46,000, rent expense $18,000, revenues $101,000, and salary expense $60,000. the note payable balance is due in nine months. how much is charlie's current ratio? (round your answer to two decimal places.)

The Charlie current ratio is 1.84 times

Explanation:

The formula to compute the current ratio is shown below:

Current Ratio = Current Assets ÷ Current liabilities

where,

Current assets = Cash + accounts receivable + inventory + prepaid expenses

= $46,000 + $46,500 + $32,000 + 4,400

= $128,900

And, the current liabilities equal to

= Accounts payable + interest payable + short term notes payable

= $36,500 + $3,500 + $30,000

= $70,000

Now put these values to the above formula

So, the ratio equal to

= $128,900 ÷ $70,000

= 1.84 times