Statement of Financial PositionJohn and Mary KempBalance Sheet / Statement of Financial WorthAs of December 31, 2020Assets(1)Liabilities & Net Worth(2)Cash and EquivalentsLiabilities (Current)JTCash & Checking$5,000Credit Card Debt$14,708JTSavings Account$945,000Current Portion - Primary Residence-HCertificate of Deposits180,000Current Portion - Vacation HomeTotal Cash and Equivalents$1,130,000Total Current Liabilities$14,708Invested AssetsLiabilities (Long-Term)JTStock Portfolio$940,000Long-Term Portion - Primary Residence$-HMutual Fund Portfolio2,907,682Long-Term Portion - Vacation HomeHInstallment Receivable-Total Liabilities Long-Term$-H401(k) Account - John1,054,540W401(k) Account - Mary105,000Total Liabilities$14,708WCash Value of Universal Life Insurance #2-HAnnuity Policy (3)74,000Total Invested Assets$5,081,222Personal-Use AssetsJTPrimary Residence (4)$900,000HVacation Home (5)750,000HAuto - 2017 Chevy SUV35,000WAuto - 2016 Chevy Automobile20,000Net Worth$8,871,515JTFurniture & Personal Property150,000H2018 Sea Ray 19" Boat95,000H1918 Inverted Jenny Stamp725,000Total Use Assets$2,675,000Total Assets$8,886,222Total Liabilities & Net Worth$8,886,222Notes to Financial Statements:(1) = All assets are stated at fair market value(2) = Liabilities are stated at principal only(3) = Primary Beneficiary Designation is spouse. Contingent beneficiary is children in equal percentages(4) = FMV of Land is $125,000. Cost basis is $370,000(5) = FMV of Land is $200,000.JT = Joint TenantsH = HusbandW = Wife2)Calculate the current ratio as of 12/31/20 and explain any strengths or weaknesses of this ratio: