Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945 Daaniad Ruth Corporation Balance Sheet December 31, 2017 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Office supplies Total current assets Long-term investments pobed" 000 Property, plant, and equipment: Land Automobiles Accumulated depreciation Accumulated depreciation Total property, plant, and equipment Intangible assets: Total assets Liabilities Current liabilities: Total current liabilities Long-term debt: Total liabilities Stockholders' Equity Contributed capital: Total contributed capital Total stockholders' equity Total liabilities and stockholders' equity 2. Compute Ruth's current ratio. Round your answer to two decimal places. to 1 3. On the basis of your answer to (2), does Ruth appear to be liquid