Ratios are important in determining one's financial well-being. One of the most important ratios is the "current ratio". This ratio shows whether one has enough. liquid assets to cover one's current expenses. Which of the following correctly identifies the formula for the "current ratio"? 1) Current liabilities, divided by monetary assets 2) Monetary assets divided by current liabilities 3) Current assets divided by monetary liabilities 4) Month's living expenses divided by current assets