Following information applies to the following questions. The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over Balance Sheet (Millions of $ Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock Retained earnings Total common equity Total liabilities and equity 2010 $1,290 9,890 13,760 $24,940 $18,060 $43,000 $8,170 6,020 $18,920 $8815 $27,735 $5,805 9,460 $15,265 $43,000 Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Earnings bef interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes Net income 2010 $51,600 48,246 903 $2,451 227 $1,524 533 Other data Shares outstanding (millions) Common dividends (millions of $) Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 500.00 $346.67 6.25% 35% $23.77 What is the firm's current ratio? o 1.11 1.32 o 1.28 ? 1.04 o 1.17