Winters, Inc. has a cash balance of $78,000; short-term investments of $22,000; net receivables of $65,000; and inventory of $490,000. Current liabilities total $200,000. Winters' current ratio is: (Round your final answer to two decimal places.)

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The current ratio is calculated as (Cash + Short-term investments + Net receivables + Inventory) / Current liabilities. So, ($78,000 + $22,000 + $65,000 + $490,000) / $200,000 = $655,000 / $200,000 = 3.28 to 1.