Pioneer's adjusted trial balance as of December 31, 2018 is given below:

Debit

Credit

Cash

$12,000

Accounts Receivable

8,000

Prepaid Rent

7,000

Prepaid Insurance

2,000

Office Supplies

3,200

Land

49,000

Building

50,000

Accumulated

DepreciationBuilding

$14,000

Equipment

32,000

Accumulated

DepreciationEquipment

7,400

Accounts Payable

5,500

Salaries Payable

4,600

Interest Payable

2,400

Mortgage Payable (long term)

6,000

Common Stock

12,000

Dividends

21,000

Service Revenue

240,100

Salaries Expense

48,500

Insurance Expense

2,500

Rent Expense

12,500

Utilities Expense

15,000

Advertising Expense

9,800

Depreciation

ExpenseBuilding

10,600

Depreciation

ExpenseEquipment

7,600

Supplies Expense

1,300

Total

$292,000

$292,000

Compute the current ratio. (Round your answer to two decimal places.)