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The balance sheet for Altoid Company is shown below. ALTOID COMPANY Balance Sheet December 31,...

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Accounting

The balance sheet for Altoid Company is shown below. ALTOID COMPANY Balance Sheet December 31, 2024 Assets: Cash $ 340 Short-term investments 1,150 Accounts receivable (net) 1,250 Inventory 1,400 Property, plant, and equipment (net) 1,080 Total assets $ 5,220 Liabilities and shareholders' equity: Current liabilities $ 1,400 Long-term liabilities 1,550 Common stock 1,100 Retained earnings 1,170 Total liabilities and shareholders' equity $ 5,220 Selected 2024 income statement information for Altoid Company includes: Net Sales $ 9,600 Operating expenses 8,610 Income before interest and tax 990 Interest expense 90 Income tax expense 270 Net income $ 630 Required: Compute Altoid Company's current ratio for 2024. Note: Round your answer to 2 decimal places

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