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Shown below is the adjusted trial balance for TAS Corporation on December 31, 2029. TAS Corporation is in the business of providing financial consulting services.

Shown below is the adjusted trial balance for TAS Corporation on December 31, 2029. TAS Corporation is in the business of providing financial consulting services.

Debit Credit
Cash 16,000
Accounts Receivable 20,000
Prepaid rent 15,000
Equipment 171,000
Building 100,000
Land 21,000
Accumulated Depreciation 80,000
Accounts Payable 31,000
Unearned revenue (service will be provided within 10 months) 20,000
Notes Payable (due in 6 months) 40,000
Common Stock 103,000
Retained Earnings, 12/31/29 40,000
Service Revenue 86,000
Rent Expense 14,000
Advertising Expense 3,000
Wage Expense 33,000
Supplies Expense 7,000

Calculate TASs current ratio (current assets divided by current liabilities) on December 31, 2029. Round your answer to two decimal places (e.g., 0.13).

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