) For the FY 2018, Dorchester Company’s balance sheet included the following current items:

1.) For the FY 2018, Dorchester Company’s balance sheet included the following current items: cash $43,000, accounts receivable $136,000, inventories $82,000, prepaid expenses $25,000, accounts payable $99,000, and accrued expenses $72,000.  Use this information to determine the Current Ratio. (Round & enter your answers to one decimal place.)

2.) For the FY 2018, Frederick Company had net sales of $800,000 and net income of $55,000, paid income taxes of $17,500, and had before tax interest expense of $10,000. Use this information to determine the Times Interest Earned Ratio. (Round your answers to one decimal place)

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