On June 30, 2020, Kovacs Company borrowed $370,000 at a bank by signing a five-year, 10% loan. The terms of the loan require equal semi-annual principal payments plus interest beginning December 31, 2020. The loan agreement requires the company to maintain a current ratio of 2.5. The December 31, 2020, year-end statement of financial position, immediately prior to the bank loan repayment and the reclassification of long-term debt, follows: Current assets $216,000 Current liabilities $54,000 Non-current assets 446,000 Loan payable 370,000 Common shares 145,000 Retained earnings 93,000 Total liabilities and Total assets $662,000 shareholders' equity $662,000 Does Kovacs Company comply with the current ratio requirement prior to recording the December 31 loan payment? (Round answer to 1 decimal place, eg. 1.2.) Current ratio Kovacs Company the bank's minimum current ratio.