Question: What is the current ratio for the current year?

The Bedford Corporation reported the following income statement and balance sheet amounts and additional information for the end of the current year. End of prior End of current year year $1,520,000 Net sales revenue (all credit) Cost of goods sold $1,025,000 Gross profit $495,000 $280,000 Selling/general expenses $42,000 Interest expense $173,000 Net Income