Edward Allen Interiors Inc.is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from...

Edward Allen Interiors Inc. is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Edward Allen's September 30, 2016, trial balance. (The amounts shown represent millions of dollars.)

 Accounts Payable$147 Accounts Receivable 33 Cash 146 Common Stock 36 Equipment 390 Inventory 182 Notes Payable (long-term) 250 Notes Payable (short-term) 2 Prepaid Rent 38 Retained Earnings 401 Salaries and Wages Payable 43 Software 90 

Assume that the following events occurred in the following quarter.

1. Paid $50 cash for additional inventory.
2. Issued additional shares of common stock for $30 in cash.
3. Purchased equipment for $240; paid $115 in cash and signed a note to pay the remaining $125 in two years.
4. Signed a short-term note to borrow $12 cash.
5. Conducted negotiations to purchase a sawmill, which is expected to cost $44.

Calculate Edward Allen's current ratio at September 30, 2016, prior to the transactions listed above