The Shania Company December 31, 2015, balance sheet contains the following. The company's current ratio to the nearest tenth is, _____ to 1.
| Cash |
$8,000 |
| Account Receivable |
12,000 |
| Inventory |
20,000 |
| Equipment |
60,000 |
| Accumulated Depreciation |
20,000 |
| Accounts Payable |
8,000 |
| Salaries Payable |
2,000 |
| Notes Payable, due in 20 days |
10,000 |
| Mortgage Note Payable, due in 15 years |
20,000 |
| Twain, Capital |
40,000
|