ASSETS Current: Vulture Sporting Goods Company Balance Sheet March 31, 2022 Thousands Cash S 1,300 Accounts receivable 28,200 Inventories 37,000 Other current assets 5,200 Total current assets 71,700 Property and equipment, net 6,000 Other assets 28,000 105,700 Total assets LIABILITIES Total current liabilities 53,000 Long-term liabilities 12,500 Total liabilities 65,500 STOCKHOLDERS' EQUITY Common stock 27,000 Retained earnings 13,200 Total stockholders' equity 40,200 Total liabilities and stockholders' equity 105,700 For the Year Ended March 31, 2022 Thousands Requirements 1. Compute Vulture's current ratio. (Round to two decimal places.) 2. Prepare the income statement for the year ended March 31, 2022. 3. Journalize the earning of service revenue: $60,000 on account and $45,000 in cash