Current Attempt in Progress

Cheyenne & Associates Inc. reports the following account balances for the year ending June 30, 2022:

Accounts payable		$28,000
Accounts receivable		34,000
Cash and cash equivalents		15,900
Goodwill		131,000
Inventory		86,000
Notes payable (due 2027)		107,000
Interest payable		4,200
Notes payable (due within one year)		14,500
Property, plant, and equipment		585,000
Accumulated depreciation		112,000
Prepaid insurance		5,570
Salaries and wages payable		13,500
Bonds payable		310,000

Compute the companys (a) current ratio and (b) debt to assets ratio. (Round current ratio to 2 decimal places, e.g. 1.55:1 and debt to assets ratio to 0 decimal place, e.g. 55%.)

(a)		Current ratio			:1
(b)		Debt to assets ratio			%