Current Liabilities and Ratios Several accounts that appeared on Kruse's 2017 balance sheet are as follows: Accounts Payable $73,000 Equipment $950,000 Marketable Securities 40,000 Taxes Payable 15,000 Accounts Receivable 139,400 Retained Earnings 250,000 Notes Payable, 12%, due in 20,000 Inventory 165,000 60 days Capital Stock 1,150,000 Allowance for Doubtful 20,000 Accounts Salaries Payable 10,000 Land 600,000 Cash 65,000 Required: 1. Prepare the Current Liabilities section of Kruse's 2017 balance sheet. Kruse Partial Balance Sheet As of December 31, 2017 Current liabilities: Total current liabilities 2. Compute Kruse's working capital. 3. Compute Kruse's current ratio. Round your answer to one decimal place. 1 What does this ratio indicate about Kruse's condition? It seems that Kruse has current assets to meet its short-term obligations