Apple Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a variety of related software and services. The following is Apples (simplified) statement of financial position from a recent year (fiscal year ended on the last Saturday of September).

APPLE INC. STATEMENT OF FINANCIAL POSITION At September 29, 2018 (in millions of U.S. dollars)
ASSETS
Current assets:
Cash and cash equivalents	$	25,913
Short-term investments		40,388
Accounts receivable		23,186
Inventories		3,956
Other current assets		37,896
Total current assets		131,339
Non-current assets
Long-term investments		170,799
Property, plant, and equipment		41,304
Other non-current assets		22,283
Total non-current assets		234,386
Total assets	$	365,725
LIABILITIES AND SHAREHOLDERS EQUITY
Current Liabilities:
Accounts payable	$	55,888
Short-term notes payable		20,748
Deferred revenue		7,543
Other current liabilities		32,687
Total current liabilities		116,866
Non-current liabilities
Long-term debt		93,735
Other non-current liabilities		47,977
Total non-current liabilities		141,712
Shareholders equity:
Contributed capital		36,747
Retained earnings		70,400
Total shareholders equity		107,147
Total liabilities and shareholders equity	$	365,725

Source: Apple Inc., Annual Report 2018.

Assume that the following transactions (in millions) occurred during the next fiscal year (ended on September 28, 2019):

Borrowed $6,266 from banks due in two years.

Purchased additional investments for $71,000 cash; one-fifth were long-term and the rest were short-term.

Purchased property, plant, and equipment; paid $13,571 in cash and signed a short-term note for $5,410.

Issued additional shares for $469 in cash.

Sold short-term investments costing $55,810 for $55,810 cash.

Declared $13,735 in dividends to be paid at the beginning of the next fiscal year.

1.Compute Apples current ratio for the year ending on September 28, 2019. (Round your answer to 2 decimal places.)