Dividend Aristocrat Inc. (DA) borrowed $197,000 from Grow Business Bank to finance the purchase of equipment costing $147,750 and to provide $49,250 in cash. The legal documentation states that the loan matures in 20 years, and the principal is to be paid in annual instalments of $9,850. The terms of the loan also indicate that DA must maintain a current ratio of 1.25 and cannot pay dividends that will reduce retained earnings below $97,000. The 2020 year-end statement of financial position, immediately prior to the bank loan and the purchase of equipment, follows: Current liabilities $110,760 $78,000 Current assets Long-term liabilities Non-current assets 406,240 197,000 Common shares 109,000 Retained earnings 133,000 Total liabilities and $517 $5 00 shareholders' equity 7,00 Total assets Prepare the following statement of financial position assuming the maximum divided is declared and paid Current Liabilities Current Assets Long-term Lia bilities Non-current Assets Common Shares Retained Earnings Total Liabilities and $ Shareholder's Equity $ Total Assets Calculate the current ratio using the updated statement of financial position. (Round answer to 2 decimal places, e.g. 7.25.) Current Ratio in compliance with the loan agreeement Dividend Aristocrat Inc