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You are evaluating the balance sheet for Patty Cake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $500,000;

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You are evaluating the balance sheet for Patty Cake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $500,000; accounts receivable = $1,000,000; inventory = $1,900,000; accrued wages and taxes = $400,000; accounts payable = $700,000; and notes payable = $400,000. Calculate PattyCakes' current ratio. (Round your answer to 2 decimal places.) Current ratio times

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