Current Liabilities and Ratios Several accounts that appeared on Snow's 2017 balance sheet are as follows: Accounts Payable $79,000 Equipment Marketable Securities 40,000 Taxes Payable Accounts Receivable 122,000 Retained Earnings Notes Payable, 12%, due in 60 days 20,000 Inventory Capital Stock Salaries Payable Cash Required: Total current liabilities 2. Compute Snow's working capital. 1. Prepare the Current Liabilities section of Snow's 2017 balance sheet. Snow Partial Balance Sheet As Of December 31, 2017 Current liabilities: 1,150,000 : 1 Allowance for Doubtful Accounts 10,000 Land 65,000 3. Compute Snow's current ratio. Round your answer to one decimal place. It seems that Snow has What does this ratio indicate about Snow's condition? current assets to meet its short-term obligations. $950,000 15,000 250,000 165,000 20,000 600,000

Current Liabilities and Ratios Several accounts that appeared on Snow's 2017 balance sheet are as follows: 1. Prepare the Current Liabilities section of Snow's 2017 balance sheet. 2. Compute Snow's working capital. 3. Compute Snow's current ratio. Round your answer to one decimal place. :1 What does this ratio indicate about Snow's condition? It seems that Snow has current assets to meet its short-term obligations