Thompson Laser Company had current assets of $402,090 and current liabilities of $104,000. Compute the working capital ratio. (Round answer to two decimal places.)

Working Capital Ratio

A financial metric used to determine a company's ability to pay off its current liabilities with its current assets.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business.

Current Liabilities

Short-term financial obligations that are due within one year or within the normal operating cycle of a company.