Current Liabilities and Ratios

Several accounts that appeared on Spring's 2017 balance sheet are as follows:

Accounts Payable	$83,000		Equipment	$950,000
Marketable Securities	40,000		Taxes Payable	15,000
Accounts Receivable	185,200		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 Spring's 2017 balance sheet.

Spring
Partial Balance Sheet
As Of December 31, 2017
Current liabilities:
Accounts payable	$
Notes payable, 12%, due in 60 days
Taxes payable
Salaries payable
Total current liabilities	$

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Prepare the liabilities section of the balance sheet.

2. Compute Spring's working capital.

$ ?

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

? : 1