Exhibit 3.1: The following is the balance sheet and income statement for John Harper Inc for 20X9 Balance Sheet (Millions of $) Assets 2012 Cash and securities $ 1,554.0 Accounts receivable 9,660.0 Inventories 13.440.0 Total current assets $24,654.0 Net plant and equipment 17.346,0 Total assets $42.000.0 Liabilities and Equity Accounts payable $ 7,980.0 Notes payable 5,890.0 Accruals 4,620,0 Total current liabilities $18.480.0 Long-term bonds 10.920,0 Total debt $29.400.0 Common stock 3.360.0 Retained earnings 9,2400 Total common equity $12.600.0 Total liabilities and equity $42.000,0 Income Statement (Millions of 5) 2012 Net sales $58,800.0 Operating costs except depreciation $54.978.0 Depreciation $ 1.0290 Earnings before interest and taxes (EBIT) $ 2.793.0 Less interest 1.050.0 Earnings before taxes (EBT) $ 1.743.0 Taxes S61001 Net Income 11330 Other data: Number of common shares outstanding (Millions) 175.00 Common dividends $ 509 83 Interest rate on Notes payable & Long-Term bonds 625 Federal plus state Income corporate) tax rate 35 Year-end stock price 577.69 Refer to Exhibit 3.1. What is the firm's current ratio