Problem: Xavier Company reported the following income statement and balance sheet amounts on December 31, 2020. 2020 2019 Net sales revenue (all credit) $1,700,000 Cost of goods sold 1,040,000 Gross margin 660,000 Selling and general expenses 420,000 Interest expense 60,000 Net income $ 180,000 Current assets $ 100,000 $ 90,000 Long-term assets 830,000 800,000 Total assets $930,000 $890,000 Current liabilities $ 72,000 $ 56,000 Long-term liabilities 204,000 390,000 Common stockholders' equity 654,000 444,000 Total liabilities and stockholders' equity $930,000 $890,000 Inventory and prepaid expenses account for $50,000 of the 2020 current assets. Average inventory for 2020 is $36,000. Average net accounts receivable for 2020 is $62,000. Average one-day sales are $5,900. There are 12,000 shares of common stock outstanding at the end of 2020. The market price per share of common stock is $27 at the end of 2020. The EPS for 2020 is equal to $15 per share. Refer to Exhibit. What is the current ratio for 2020 (rounded to two decimal places)?