Higgins Company began operations last year. You are a member of the management team investigating expansion ideas

that will require borrowing funds from banks. At the start of the current year, Higgins's T$-$account balances were as follows:

Assets :

The following transactions occured in current year:

a$.$ Borrowed $$2,300$ from a local bank, signing a note due in three years.

b$.$ Sold $$1,100$ of the investments for $$1,100$ cash.

c$.$ Sold one$-$half of the property and equipment for $$1,700$ in cash.

d$.$ Declared and paid $$350$ in cash dividends to stockholders.

Calculate the current ratio at December $31$ of the current year. $($Round your answer to $2$ decimal places.$)$