Question 37 2 pts Refer to Exhibit 4.1. What is the firm's current ratio? Do not round your intermediate calculations Exhibit 4.1 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 5) Assets 2021 Cash and securities $3,000 Accounts receivable 15,000 Inventories 18.000 Total current assets $36,000 Net plant and equipment $24,000 Total assets $60,000 Liabilities and Equity Accounts payable $17,160 Accruals 9,240 Notes payable 6,000 Total current liabilities $32.400 Long-term bonds $12,000 Total liabilities $44.400 Lake Long-term bonds 512,000 Total liabilities $44,400 Common stock $3,900 Retained earnings 11,700 Total common equity $15,600 Total liabilities and equity 560,000 Income Statement (Millions of 5) 2021 Net sales 566,000 Operating costs except depreciation 61 380 Depreciation 1.320 Earnings before interest and taxes (EBIT) $3,300 Less interest 1,080 Earnings before taxes (EBT) $2.220 Taxes (259) 555 Net income $1,665 Other data Share outstanding (millions) 500.00 Common dividends (millies of 5) 5582.75 Tot rate botes payable & LT bonds 69 Federal plus state income tax rate Year and stock price $99.95 tare Earnings before interest and taxes (EBIT) $3,300 Less interest 1,080 Earnings before taxes (EBT) $2,220 Taxes (25%) 555 Net income $1,665 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of 5) 5582.75 Intrate on notes payable & L-T bonds 696 Federal plus state income tax rate 2596 Year-end stock price $39.96 O 1.06 @ 137 O 1.20 no O 111 0.84