Forman and Brasso Furniture Company had total current assets of $455,000 and total current liabilities of $295,400. Compute the working capital ratio. (Round answer to two decimal places.)

Working Capital Ratio

a financial metric that measures a company's ability to pay off its current liabilities with its current assets, an indicator of financial health.

Total Current Assets

The total value of all assets that are expected to be converted into cash within one year, including cash, inventory, and receivables.

Total Current Liabilities

The sum of all debts and financial obligations a company is expected to pay within one fiscal year.