Warren Company Balance Sheet At December 31, 20x1 Cash Notes receivable(due September 10, 20x2) Accounts receivable (net) Inventory Property, plant, and equipment (net) Intangible assets Total assets Current liabilities Bonds payable(10%) (long-term) Common stock Retained earnings Total liabilities and equity $ 25,500 42,000 51,000 74,500 315,000 15,000 $523,000 $120,400 110,000 61,000 231,600 $523,000 Warren Company Income Statement For the Year ended December 31, 20x1 Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense Income before income tax Income tax expense Net income $899,000 487, 400 $411,600 181,800 $229,800 11,000 $218,800 65,640 $153,160 Required: Compute Warren's current ratio. (Round your answer to 2 decimal pla Current ratio