The financial statements for Banana Company include the following items: 20X9 20X8 Cash $46,500 $40,000 Short-term Investments 31,000 20,000 Net Accounts Receivable 53,000 52,000 Merchandise Inventory 163,000 43,000 Total Assets 531,000 544,000 Accounts Payable 130,500 128,000 Salaries Payable 19,000 14,000 Long-term Note Payable 62,000 53,000 Compute the current ratio for 20X8. O 6.72 O 3.83
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