Given the following financial information, how much in Current Liabilities did Acme Corp. report in its 2020 balance sheet? (Some accounts can be reported either as current or non-current, depending on the circumstances. Choose the classification that is typical for a given liability account.) Financial Statements for 2020 Income Statement Balance Sheet Assets Cash Accounts Receivable, Net Inventory Prepaid Rent Equipment, Net Land Total Assets 2020 2019 $ 107,200 $ 64,000 $ 48,000 $ 31,000 $ 42,000 $ 32,000 $ 35,000 $ 27,000 $ 70,000 $ 80,000 $ 30,000 $ 55,000 $ 332,200 $ 289,000 Sales Revenue Cost of Goods Sold Wages Expense Rent Expense Bad Debt Expense R&D Expense Depreciation Expense Interest Expense Loss on Sale of Land Income Tax Expense Net Income $ 375,000 $ (199,000) $ (40,000) $ (18,000) $ (5,000) $ (22,000) $ (10,000) $ (4,000) $ (6,000) $ (7,800) $ 63,200 Liabilities and Equity Accounts Payable Wages Payable Income Tax Payable Long-Term Debt Contributed capital Retained Earnings Total Liabilities and Equity $ $ $ $ $ $ $ 2020 23,000 $ 16,000 $ 6,000 $ 38,000 $ 150,000 $ 99,200 $ 332,200 $ 2019 26,000 18,000 9,000 50,000 150,000 36,000 289,000 Using the numbers provided below, calculate the Inventory Turnover Ratio. Financial Statements for 2020 Income Statement Balance Sheet Assets Cash Accounts Receivable, Net Inventory Prepaid Rent Equipment, Net Land Total Assets 2020 2019 $ 107,200 $ 64,000 $ 48,000 $ 31,000 $ 42.000 $ 32,000 $ 35,000 $ 27,000 $ 70,000 $ 80,000 $ 30,000 $ 55,000 $ 332,200 $ 289,000 Sales Revenue Cost of Goods Sold Wages Expense Rent Expense Bad Debt Expense R&D Expense Depreciation Expense Interest Expense Loss on Sale of Land Income Tax Expense Net Income $ 375,000 $ (199,000) $ (40,000) $ (18,000) $ (5,000) $ (22,000) $ (10,000) $ (4,000) $ (6,000) $ (7,800) S 63,200 Liabilities and Equity Accounts Payable Wages Payable Income Tax Payable Long-Term Debt Contributed Capital Retained Earnings Total Liabilities and Equity $ $ $ $ $ $ $ 2020 2019 23,000 $ 26,000 16,000 $ 18,000 6,000 $ 9,000 38,000 $ 50,000 150,000 $ 150,000 99,200 $ 36,000 332,200 $ 289,000 3.69 443 5,38 8.92