Suppose a company starts with $8,000 in current assets and $2,000 in current liabilities. The company then refinances $600 of short-term debt with long term debt. After the refinancing, what is the company's current ratio?

Suppose a company starts with $8,000 in current assets and $3,000 in current liabilities. The company purchases $600 of inventory with cash. After the purchase, what is the company's current ratio?

Round your answer to 2 decimal places, for example 1.12.