Using the information provided, calculate the ratios that would be relelvant in determining whether or not Pare Furniture Inc. can pay both its current and long-term devt. Comment on whether the company's position has improved during 2020.

Compute the current ratio for 2020 and 2019.

Select the formula, and then enter the amounts to calculate the current ratio for 2020 and 2019.

2020 2019 Cash $ 21,000 $ 46,000 Short-term investments 32,000 Net receivables 118,000 126,000 244,000 267,000 Inventory Prepaid expenses 23,000 10,000 Total assets 590,000 520,000 302,000 Total current liabilities 227,000 . Long-term debt. 38,000 58,000 Income from operations 198,000 169,000 Interest expense.. 46,000 44,000