Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: $16,435 $5,710 Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings Automobiles Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash 25,580 21,390 38,720 106,950 145,000 193,600 143,000 12,650 Income taxes payable Interest payable Inventory Land Long-term investments Notes payable, due June 30, 2018 Office supplies Pald-in capital in excess of par value Patents Prepaid rent Retained earnings Salaries and wages payable 1,600 43,245 241,000 88,140 11,000 2,360 48,000 39,000 1,595 319,370 3,895 Required: 1. Prepare in good form classified balance sheet as of December 31, 2017 Ruth Corporation Balance Sheet December 31, 2017 Current assets: 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 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