Answer:
2.24 times
Explanation:
The formula and the computation of the current ratio is shown below:
As we know that
Current ratio = Current assets ÷ current liabilities
where,
Current assets = Prepaid rent + office supplies + account receivable + cash
= $2,500 + $1,300 + $6,600 + $3,500
= $13,900
And, the current liabilities is
= Account payable + salaries payable
= $3,600 + $2,600
= $6,200
So, the current ratio is
= $13,900 ÷ $6,200
= 2.24 times