Jane is trying to improve her personal financial planning. Particularly, she wants to make sure she has a sufficient emergency fund. Her financial assets include $300 in cash, $1,200 in savings, $3,200 in checking, and $5,500 in her 401(k). She estimates that her minimum monthly expenses are $1,200 in rent, $300 on an auto loan, $500 in insurance, and $20 in streaming services.

a. Calculate her current emergency fund ratio.

b. Does she have a sufficient emergency fund? If not, what level of liquid assets should she aim to have?