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  3. (liquidity analysis) the king carpet compary has $

(Liquidity Analysis) The King Carpet Compary has $2,960,000 in cash and a total of $12,050,000...

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(Liquidity Analysis) The King Carpet Compary has $2,960,000 in cash and a total of $12,050,000 in current assets. The frem's current flabilifes equal $5,230,000 such that the firm's current rato equals 2.3 . The company's managers want to reduce the frm's cash holdings down to $1,160,000 by paying $576,000 in cash to eapand the frmis truck fleet and using $1,224,000 in cash to refire a short-tarm note. If they carry this plan through, what wit happen to the fimis current ratio? The new current rato is (Round to one decimal place)

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