Current Attempt in Foymount Industries Inc. borrowed $760,000 from Development Bank to finance the purchase of equipment costing $617.500 and to provide $142.500 in cash. The legal documentation states that the loan matures in 20 years, and the principal is to be paid in annual instalments of $38.000. The terms of the loan also indicate that Foymount must maintain a current ratio of 2.5 and cannot pay dividends that will reduce retained earnings below $375,000. The statement of financial position, immediately prior to the bank loan and the purchase of equipment, follows: Current assets $353,430 Current liabilities $153,000 Non-current assets 4.154,570 Long-term liabilities 1,435.000 Common shares 2.439,000 Retaired earnings 481,000 Total assets $4,508,000 Total liabilities and shareholders' equity $4,508,000 Prepare the following statement of financial position assuming the maximum divided is declared and paid. Current Assets s Current Liabilities Non-current Assets Long-term Liabilities Prepare the following statement of financial position assuming the maximum divided is declared and paid. Current Assets s Current Liabilities $ Non-current Assets Long-term Liabilities Common Shares Retained Earnings Total Assets Total Liabilities and Shareholder's Equity $ Calculate the current ratio using the updated statement of financial position (Round answer to 2 decimal places, 0.8. 7.25.) Current Ratio Dividend Aristocrat Inc in compliance with the loan agreeement