Homework: ACC-260 Benchmark - Topic 7 Assignment Question 4 Par The financial statements of Velma's Natural Foods include the following items: Click the icon to view the financial statements.) a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal Current ratio Total current assets/Total current liabilities decimal places, X.XX.) Financial Statements Current Year Preceding Year Balance Sheet: Cash 17,000 $ 12,000 26,000 24,000 92,000 42,000 84,000 82,000 12,000 15,000 Short-term Investments Net Accounts Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Credit Sales Cost of Goods Sold 170,000 236,000 133,000 84,000 $ 470,000 319,000 Print Done Cles