Balance Sheet December 31, 2021 Assets Equities Cash $299000 Accounts payable $630000 1957000 Income taxes payable 190000 Accounts receivable (net) Inventories 2430000 226000 Miscellaneous accrued payables Plant and equipment, 1873000 Bonds payable (8%, due 2023) net of depreciation 1984000 Preferred stock ($100 par, 6% Patents 258000 759000 cumulative nonparticipating) $7003600 Total Assets shares authorized, issued 1121000 and outstanding) 2433600 Retained earnings Treasury stock-1500 shares (229000) of preferred Total Equities $7003600 Marigold Corp. Income Statement Year Ended December 31, 2021 $8700000 Net sales 6500000 Cost of goods sold 2200000 Gross profit 1600000 Operating expenses (including bond interest expense) 600000 Income before income taxes Income tax 180000 Net income $420000 Additional information: There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2021, and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during 2021. Assume that preferred dividends for the current year have not been declared. At December 31, 2021, the current ratio was At December 31, 2021, the current ratio was 4686 +820. 4686-1046 2256 + 630. O 6671 +820