The condensed balance sheet and income statement for Marjoram Company are presented below. MARJORAM COMPANY Balance Sheet At December 31, 2021 Cash Notes receivable (due August 15, 2022) Accounts receivable (net) $ 28,500 48,000 52,200 Inventory 76,300 Property, plant, and equipment (net) 345,000 Intangible assets 16,200 Total assets $566,200 Current liabilities $121,600 Bonds payable (10%) (long-term) Common stock Retained earnings Total liabilities and equity 140,000 67,000 237,600 $566,200 MARJORAM COMPANY Income Statement For the Year ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense Income before income tax Income tax expense Net income Required: $989,000 517,400 $471,600 189,000 $282,600 14,000 $268, 600 80,580 $188,020 Compute the current ratio for Marjoram Company. (Round your answer to 2 decimal places.) Current ratio ...I