The following is a December 31, 2016, post-closing trial balance for Culver City Lighting, Inc.

Account Title	Debits	Credits
Cash	61,000
Accounts receivable	45,000
Inventories	51,000
Prepaid insurance	21,000
Equipment	120,000
Accumulated depreciationequipment		40,000
Patent, net	46,000
Accounts payable		15,000
Interest payable		5,000
Note payable (due in 10, equal annual installments)		120,000
Common stock		76,000
Retained earnings		88,000
Totals	344,000	344,000

a.	Calculate the current ratio.