Exercise 4-19 Calculating the current ratio LO7 Calculate (to two decimal places) the current ratio in each of the following cases and indicate whether it is Favourable (F) or Unfavourable (U) (assuming that the current ratio for the industry is an average of 1.1): Case 1 $78,000 Case 2 $104,000 Case 3 $44.000 Current Assets Case 4 $84,500 80,600 Current Liabilities 31,000 75,000 48,000