Information for Marigold Corp. is given below:

Marigold Corp.

Balance Sheet

December 31, 2021

Assets

Equities

Cash $ 288000

Accounts payable $ 634000

Accounts receivable (net) 1956000

Income taxes payable 192000

Inventories 2431000

Miscellaneous accrued payables 227000

Plant and equipment,

Bonds payable (8%, due 2023) 1874000

net of depreciation 1982000

Preferred stock ($100 par, 6%

Patents 258000

cumulative nonparticipating) 757000

Other intangible assets 73900

Common stock (no par, 60,000)

Total Assets $6988900

shares authorized, issued

and outstanding) 112500

Retained earnings 2408900

Treasury stock-1500 shares of preferred (229000)

Total Equities$6988900

Marigold Corp.

Income Statement

Year Ended December 31, 2021

Net sales $8500000

Cost of goods sold 5700000

Gross profit 2800000

Operating expenses (including bond interest expense) 1400000

Income before income taxes 1400000

Income tax 420000

Net income $ 980000

Additional information:

There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2021, and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during 2021. Assume that preferred dividends for the current year have not been declared.

At December 31, 2021, the current ratio was what?