Find current ratio and inventory turnover and then EXPLAIN THE STEPS THAT YOU HAVE TO FOLLOW TO REACH THE ANSWER.

Jefferson Co. has $2 million in total assets and $3 million in sales. The company has the following balance sheet:

Cash $ 100,000	Accounts payable $ 200,000
Accounts receivable 200,000	Accruals 100,000
Inventories 500,000	Notes payable 200,000
Net fixed assets 1,200,000	Long-term debt 700,000
	Common equity 800,000
Total assets $2,000,000	Total liabilities/equity $2,000,000

Jefferson wants to improve its inventory turnover to the industry average of 10.0. The change is not expected to have an effect on sales. If successful, the company would use the freed-up cash from the reduction in inventories and use half of it to reduce notes payable and the other half to reduce common equity.

If successful, what will be Jeffersons current ratio?