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SME Corp. 2016 & 2017 Balance Sheet
Assets:	2017	2016
Cash and marketable securities	$600,000	$400,000
Accounts receivable	900,000	1,415,000
Inventories	1,500,000	1,847,500
Prepaid expenses	75,000	24,000
Total current assets	$3,075,000	3,686,500
Net fixed assets	$5,925,000	$1,712,500
Total assets	$9,000,000	$5,399,000
Liabilities:
Accounts payable	$800,000	$600,000
Notes payable	700,000	875,000
Accrued taxes	50,000	92,000
Total current liabilities	$1,550,000	$1,567,000
Long-term debt	2,500,000	900,000
Owner's equity (1 million shares of common stock outstanding)	4,950,000	2,932,000
Total liabilities and owner's equity	$9,000,000	$5,399,000

SME Corp. 2017 Income Statement
Net sales (all credit)	$10,000,000
Less: Cost of goods sold	3,000,000
Selling and administrative expense	2,000,000
Depreciation expense	250,000
Operating Income	4,750,000
Interest expense	200,000
Earnings before taxes	4,550,000
Income taxes (40%)	1,820,000
Net income	$2,730,000Based on SMEs financial statements, what is its current ratio? [To 2 decimal places]

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