Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September), ASSETS Current assets: Cash ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) Short-term investments Accounts receivable Inventories $13,904 11,281 17,534 2,119 Other current assets 23,973 Total current assets 68,811 Long-term investments 130,694 Property, plant, and equipment, net 20,708 Other noncurrent assets 12,574 Total assets $232,787 LIABILITIES AND STOCKHOLDERS EQUITY Current Liabilities: Accounts payable $30,320 Accrued expenses 18,529 8,527 Unearned revenue Short-term debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity 6,334 63,710 29,107 27,971 120,788 1 23,812 88,186 111,999 Total liabilities and shareholders' equity $232,787 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,277 from banks due in two years. b. Purchased additional investments for $21,900 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,581 in cash and signed a short-term note for $1,420. d. Issued additional shares of common stock for $1,479 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,019 for $19,019 cash. f. Declared $11,135 in dividends to be paid at the beginning of the next fiscal year. Note: Enter your answers in millions. ORANGE INCORPORATED Balance Sheet (in millions) Assets 0 $ 0 Liabilities and stockholders' equity Required information $ 0 Liabilities and stockholders' equity $ 0 Required: 5. Compute Orange's current ratio on September 26, 2020. Note: Round your answer to 2 decimal places. Current ratio