What does a current ratio of $1\mathrm{.}20$:$1$ mean?

For every $$1\mathrm{.}20$ of current liabilities, a company has $$1\mathrm{.}00$ of current assets.

For every $$1\mathrm{.}20$ of current liabilities, a company has $$1\mathrm{.}20$ of current sms ssets.

For every dollar of current liabilities, a company has $$1\mathrm{.}00$ of current assets.

For every dollar of current liabilities, a company has $$1\mathrm{.}20$ of current assets.