A partial list shows that Charles Corporation’s adjusted trial balance

included the following items (all account balances are normal):
Accounts payable $39,500, Accounts receivable $48,000, Capital stock $100,000, Cash $58,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $2,600, Inventory $32,000, Note payable $24,000, Prepaid expenses $4,200, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. The note payable balance is due in nine months. How much is Charlie’s current ratio? (Round your answer to two decimal places.)