The following is the comparative balance sheet of Ivanhoe Company Limited. Current assets Cash Accounts receivable Inventories December 31, 2021 December 31, 2020 $65,000 $84,000 859,000 775,000 505,000 303,000 1.429.000 1.162,000 Total current assets Non-current assets Property, plant, and equipment 1,190,000 1,361,000 Intangible assets 1.075.000 1,276,000 Total non-current assets 2.265,000 2.637,000 Total assets $3,694,000 $3,799,000 Current liabilities Accounts payable $25,000 $35,000 Current portion of warranty liability 149,000 173,000 Current portion of warranty liability 149.000 173,000 Current portion of long-term borrowings 86,000 95,000 Total current liabilities 260,000 303,000 Non-current liabilities Long-term loan 898,000 984,000 Income tax liabilities 59.000 65,000 Warranty liability 596,000 695,000 Total non-current liabilities 1,553,000 1,744,000 Equity Share capital 1,282,000 1,282,000 Retained earnings 599,000 470,000 Total equity 1,881,000) 1,752,000 Total equity and liabilities $3,694,000 $3,799,000 (a) Calculate the current ratio for 2020 and 2021. (Round answers to 2 decimal places, e.g. 7.76.) Current ratio 2021 2020 :1 :1 eTextbook and Media Save for Later Using multiple attempts will impact your score. 20% score reduction after attempt 2 (b) Attempts: 0 of 3 used Submit Answ The parts of this question must be completed in order. This part will be available when you complete the part above