Current Liabilities and Ratios

Several accounts that appeared on Atunlu's 2016 balance sheet are as follows:

Accounts Payable	$85,000		Equipment	$950,000
Marketable Securities	40,000		Taxes Payable	15,000
Accounts Receivable	153,000		Retained Earnings	250,000
Notes Payable, 12%, due in 60 days	20,000		Inventory	165,000
Capital Stock	1,150,000		Allowance for Doubtful Accounts	20,000
Salaries Payable	10,000		Land	600,000
Cash	65,000

Required:

1. Prepare the Current Liabilities section of Atunlu's 2016 balance sheet.

2. Compute Atunlu's working capital.

3. Compute Atunlu's current ratio. Round your answer to one decimal place.

_________ : 1