Use the following balance sheet and income statement (2020) for Alkamel company to determine 'Alkamels Current ratio Balance Sheet 31/12/2020 Assets Liabilities Cash & Equivalent $300,000 Accruals $200,000 Account receivables 400,000 Account Payable 350,000 Inventories 500,000 Short Term Note 50,000 Total Current Assets 1,200,000 Total Current Liabilities 600,000 Fixed Assets 1,500,000 Long Term Dept 700,000 (Acc Depreciation) (200,000) Total Liabilities 1,300,000 Net Fixed Assets 1,300,000 Total Equities 1,200,000 Total Assets $2,500,000 Total Liabilities + Equities $2,500,000 Income Statement 31/12/2020 Sales $800,000 COGS 500,000 Gross Profit General & Administrative Exp 300,000 170,000 Income Statement 31/12/2020 Sales $800,000 COGS 500,000 Gross Profit 300,000 General & Administrative Exp 170,000 EBIT 130,000 Interest Exp 50,000 EBT 80,000 Tax Income 20,000 Net Income $60,000 Select one: a. 06.2 Gol d. 3