What is the current ratio as at 30 June 2024 based on the balance sheet report you produced from an earlier task?

2.0

1.60

0.59

0.53

Balance Sheet As at 30 June 2024 30 JUN 2024 Assets Bank Bank - On Call 54 Total Bank 54 Current Assets Accounts Receivable 137,444 Deferred Borrowing Costs 259 Feed on hand 14,000 Livestock on Hand - Dairy Cattle - Market Value 1,016,300 Total Current Assets 1,168,003 Fixed Assets Fixed Plant 579 Less Accumulated Depreciation on Fixed Plant (394) Less Accumulated Depreciation on Mobile Equipment (17,813) Less Accumulated Depreciation on Vehicles (7,900) Mobile Equipment 67,658 Vehicles 30,310 Total Fixed Assets 72,440 Non-current Assets Old MilkCo Shares 115,540 Total Non-current Assets 115,540 Total Assets 1,356,037 Liabilities Current Liabilities Accounts Payable 268,279 Advance: CookMay Partnership 1,267,220 Bank - Current 219,920 GST (8,060) Loan - Cup Family Trust 103,524 Loan - D & L Legstrong 61,994 Loan - John Doe 15,400 Loan - Kay & Matt Wisewomen 140,755 Loan - L Gaso 18,948 Loan: Nice NewLand Ltd 120,071 PAYE Payable 2,607 Rounding - Superannuation Payable 3,451 Wages Payable (14,823) Total Current Liabilities 2,199,285 Balance Sheet 30 JUN 2024 Balance Sheet M Mortensen Xero Assessment AUS Education Non-current Liabilities Bank: Term Loan 250,000 Partner Loan: D & L Legstrong (400) Partner Loan: John Doe (400) Partner Loan: Kay & Matt Wisewomen (400) Partner Loan: Cup Family Trust (400) Partner Loan: L Gaso (400) Total Non-current Liabilities 248,000 Total Liabilities 2,447,285 Net Assets (1,091,248) Equity Current Year Earnings (386,258) Livestock Revaluation Reserve - Dairy Cattle (1,700) Retained Earnings (703,290) Total Equity (1,091,248)