Consider the following balance sheet for Jojo's Jumping Jacks: \begin{tabular}{|l|r|l|c|} \hline Assers & & \multicolumn{1}{|l|}{ LABIUITIES } & \\ \hline Current assets & & Current liabilities & \\ \hline Cash & $32,800 & Accounts payable & $49,000 \\ \hline Accounts receivable & 300 & Accrued expenses & 450 \\ \hline Prepaid rent & 1,000 & Unearned revenue & 1,000 \\ \hline Total current assets & $73,900 & Total current liabilities & $50,450 \\ \hline Long-term assets & & Long-term liabilities & 99,500 \\ \hline Leasehold improvements & 100,000 & Total liabilities & $149,950 \\ \hline Accumulated depreciation & (2,000) & & \\ \hline Total long-term assets & $98,000 & OWNERS' EquiTY & \\ \hline & & Retained earnings & $11,950 \\ \hline & & Common stock & 10,000 \\ \hline & & Total owners' equity & $21,950 \\ \hline & & & \\ \hline & $171,900 & Total liabilities and equity & $171,900 \\ \hline Total assets & & \\ \hline \end{tabular} Using this information, calculate Jojo's current ratio. Enter your answer rounded to two decimal places