Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: $6,735 $18,085 23,530 24,050 38,910 1,645 48,945 Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings Automobiles Bonds payable, due December 31, 2 Buildings Capital stock, $10 par value Cash 120,250 169,000 194,550 159,000 13,320 Income taxes payable Interest payable Inventory Land Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value Patents Prepaid rent Retained earnings Salaries and wages payable 230,000 91,290 11,000 2,475 53,000 39,000 1,515 278,855 4,595 Required: 1. Prepare in good form a classified balance sheet as of December 31, 2017. Ruth Corporation Balance Sheet December 31, 2017 Assets Current assets: Total current assets Total current assets Property, plant, and equipment: Total property, plant, and equipment Intangible assets: od Total assets Liabilities Current liabilities: $ Total current liabilities Long-term debt: Total liabilities Stockholders' Equity Contributed capital: Total contributed capital $ Total stockholders' equity Total liabilities and stockholders' equity 2. Compute Ruth's current ratio. Round your answer to two decimal places. to 1 3. On the basis of your answer to (2), does Ruth appear to be liquid