es of Finance 23EW2 lyFinanceLab K Question 5, P4-5 (similar to) > The new current ratio is Adriana Tovar 11/01/23 12:02 AM (Round to one decimal place.) HW Score: 12.89%, 6.44 of 50 points O Points: 0 of 3 (Liquidity Analysis) The King Carpet Company has $2,880,000 in cash and a total of $12,390,000 in current assets. The firm's current liabilities equal $6,170,000 such that the firm's current ratio equals 2.0. The company's managers want to reduce the firm's cash holdings down to $1,160,000 by paying $564,000 in cash to expand the firm's truck fleet and using $1,156,000 in cash to retire a short-term note. If they carry this plan through, what will happen to the firm's current ratio? Save Q 18