Required information [The following information applies to the questions displayed below.] Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Equipment $27,000 3,400 Accounts payable $17,000 Accrued liabilities payable 3,800 Notes payable (current) 30,000 Notes payable (noncurrent) 2,100 6,800 43,000 Notes receivable (long-term) Factory building 2,400 Common stock 53,000 Additional paid-in capital 91,000 Retained earnings 10,000 90,000 46,500 Intangibles 4,800 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $8,900 cash. b. Lent $6,000 to a supplier who signed a two-year note. Help During the current year, the company had the following summarized activities: a. Purchased short-term investments for $8,900 cash. b. Lent $6,000 to a supplier who signed a two-year note. c. Purchased equipment that cost $19,000; paid $4,600 cash and signed a one-year note for the balance. d. Hired a new president at the end of the year. The contract was for $83,000 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. e. Issued an additional 2,600 shares of $0.50 par value common stock for $13,000 cash. f. Borrowed $10,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $2,900 cash. h. Built an addition to the factory for $26,000; paid $8,200 in cash and signed a three-year note for the balance. 1. Returned defective equipment to the manufacturer, receiving a cash refund of $1,300. 5. Compute the current ratio for the current year. (Round your answer to 2 decimal pla Current ratio < Prev S 5 of 10