Question: Compute Jamar Company's current ratio using the following information.
Accounts receivable . . . . . . . . $15,000
Long-term notes payable . . . . . . . . . . $20,000
Accounts payable . . . . . . . . . . 10,000
Office supplies . . . . . . . . . . . . . . . . . . . 1,800
Buildings . . . . . . . . . . . . . . . . . 42,000
Prepaid insurance . . . . . . . . . . . . . . . . 2,500
Cash . . . . . . . . . . . . . . . . . . . . 6,000
Unearned services revenue . . . . . . . . 4,000