On May 1, 2024, Dorothy Fashions borrowed $98,000 at a bank by signing a four-year, 6% loan. The terms of the loan require equal principal payments of $24,500 and accrued interest at 6% due annually on April 30 . The loan agreement requires the company to maintain a minimum current ratio of 2.0. The December 31, 2024, year-end statement of financial position, immediately prior to the reclassification of long-term debt, follows: (a) (b) (c) (d) Does Dorothy Fashions breach the bank's current ratio requirement after preparing the journal entries above? (Round answer to 2 decimal places, e.g. 1.25.) Current ratio Dorothy Fashions the bank's minimum current ratio