Based on the sample income statement and balance sheet infor…

Based on the sample income statement and balance sheet information shown below, the Current Ratio is: (please enter your answer to two decimal points — i.e. 2.15) Income Statement:Revenues:                        $700,000COGS:                                315,000Gross Profit:                    $385,000Operating Expenses:        325,000  Operating Income:          $  60,000Interest Expenses:               10,000Net Income:                     $  50,000 Balance Sheet:Total Current Assets:                $  85,000Total Fixed Assets:                      150,000Total Assets:                              $235,000 Total Current Liabilities:            $  45,000Total Long-term Liabilities:           60,000Total Equity:                                 130,000Total Liabilities and Equity:       $235,000