Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following:

Cash	$25,000	Accounts payable	$16,000
Investments (short-term)	2,200	Accrued liabilities payable	3,900
Accounts receivable	4,500	Notes payable (current)	6,700
Inventory	26,000	Notes payable (noncurrent)	41,000
Notes receivable (long-term)	2,900	Long-term lease liabilities	65,000
Equipment	53,000	Common stock	9,500
Factory building	103,000	Additional paid-in capital	85,500
Operating lease right-of-use assets	135,000	Retained earnings	129,000
Intangible assets	5,000

During the current year, the company had the following summarized activities:

1. Purchased short-term investments for $7,600 cash.
2. Lent $6,400 to a supplier, who signed a two-year note.
3. Leased equipment that cost $26,000; paid $5,500 cash and signed a five-year right-of-use lease for the balance.
4. Hired a new president at the end of the year. The contract was for $84,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year.
5. Issued an additional 2,800 shares of $0.50 par value common stock for $17,000 cash.
6. Borrowed $12,000 cash from a local bank, payable in three months.
7. Purchased a patent (an intangible asset) for $1,600 cash.
8. Built an addition to the factory for $20,000; paid $8,600 in cash and signed a three-year note for the balance.
9. Returned defective equipment to the manufacturer, receiving a cash refund of $3,700.

6. Compute the current ratio for the current year.