Reference no: EM132696164

A partial list shows that Charles Corporation's adjusted trial balance included the following items (all account balances are normal):

Accounts payable $36,500,

Accounts receivable $57,000,

Capital stock $100,000,

Cash $51,000,

Dividends $10,000,

Interest expense $4,000,

Interest payable $5,000,

Inventory $32,000,

Prepaid expenses $5,600,

Property, plant & equipment $123,000,

Retained earnings $46,000,

Rent expense $18,000,

Revenues $101,000, and

Salary expense $60,000.

Problem 1: How much is Charle's current ratio? (Round your answer to two decimal places.)