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. 2021 Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets $ 5,000 12,500 12,500 $30,000 20,000 $50,000 Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total liabilities Common stock - earnings $13,230 7.770 6.000 $27,000 10.000 $37.000 2.860 10.140 - Totar commonrequity Total liabilities and equity 15,000 $50,000 Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Earnings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes (25%) Net income 2021 $80,000 74,400 1,600 $ 4,000 960 $ 3,040 760 $ 2,280 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $798.00 6% Int. rate on notes payable & L-T bonds Federal plus state income tax rate 25% Year-end stock price $54.72 What is the firm's current ratio? Do not round your intermediate calculations. O a. 0.83 O b. 1.11 O c. 1.56