Classified Balance Sheet

The following balance sheet items are available from the records of Ruth Corporation at December 31, 2014.

1. Prepare in good form a classified balance sheet as of December 31, 2014.

2. Compare Ruth's current ratio.

3. On the basis of your answer to (#2), does Ruth appear to be liquid? What other information do you need to fully answer that question?

Accounnts payable	$18,255
Accounts receivable	$23,450
Accumulated depreciation-automobiles	$22,500
Accumulated depreciation-buildings	$40,000
Automobiles	$112,500
Bonds payable, due 12/31/18	$160,000
Buildings	$200,000
Capital stock, $10 par value	$150,000
Cash	$13,230
Income taxes payable	$6,200
Interest payable	$1,500
Inventory	$45,730
Land	$250,000
Long-term investments	$85,000
Notes payable, due 6/30/15	$10,000
Office Supplies	$2,340
Paid-in capital in excess of par value	$50,000
Patents	$40,000
Prepaid rent	$1,500
Retained earnings	$311,095
Salaries and wages payable	$4,200