Listen Use the following data to calculate the current ratio. Gaddis, Inc. Balance Sheet December 31, 2012 Cash $50,000 Accounts Payable 50,000 Prepaid Insurance 30,000 Salaries Payable 10,000 Accounts Receivable 40,000 Mortgage Payable 90,000 Inventory 70,000 Land held for investment 80,000 Land 75,000 Buildings 110,000 Common Stock 120,000 Retained Earnings 250,600 Accumulated Depreciation (20,000) Trademarks 70,000 1) 1.85:1. 2) 3.45:1. 3) 3.17:1. 4) 2.92:1