Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings Automobiles Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash $17,980 24,705 23,800 42,500 119,000 157,000 212,500 139,000 12,910 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 $6,325 1,480 41,405 269,000 88,740 11,000 2,260 49,000 38,000 1,640 358,290 3,785 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 Property, plant, and equipment: $ Total property, plant, and equipment Intangible assets: 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