Mei$-$kwei International$$s common stock sold for $$4\mathrm{.}05$ per share at the end of this year. The company paid preferred stock dividends totalling $$4,400$ and a common stock dividend of $$0\mathrm{.}75$ per share this year. It also provided the following data excerpts from this year$$s financial statements:

Ending

Balance Beginning Balance

Cash $ $35,000$ $ $34,000$

Accounts receivable $ $70,000$ $ $55,000$

Inventory $ $60,700$ $ $70,000$

Current assets $ $165,700$ $ $159,000$

Total assets $ $557,000$ $ $586,800$

Current liabilities $ $67,500$ $ $55,500$

Total liabilities $ $152,000$ $ $136,800$

Preferred stock $ $43,000$ $ $43,000$

Common stock, $$1$ par value $ $90,000$ $ $90,000$

Total stockholders$$ equity $ $405,000$ $ $450,000$

Total liabilities and stockholders$$ equity

$

$557,000$ $ $586,800$

This Year

Sales $($all on account$)$ $ $825,000$

Cost of goods sold $ $478,500$

Gross margin $ $346,500$

Net operating income $ $194,250$

Interest expense $ $10,500$

Net income $ $95,000$

Required:

What is the acid$-$test ratio at the end of this year? $($Round your answer to $2$ decimal places.$)$