A current ratio $of2\mathrm{.}20$ indicates that:

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Multiple Choice

for each $$1in$ total assets, the company has $$2\mathrm{.}20in$ total liabilities.

for each $$1in$ current assets, the company has $$2\mathrm{.}20in$ current liabilities.

for each $$1in$ total liabilities, the company has $$2\mathrm{.}20in$ total assets.

for each $$1in$ current liabilities, the company has $$2\mathrm{.}20in$ current assets.