Nash's Trading Post, LLC Balance Sheet December 31, 2017 Cash $185000 Accounts payable $195000 Accounts receivable Salaries and wages payable 140000 25000 Inventory 150000 Mortgage payable 225000 Prepaid insurance 85000 Total liabilities $445000 Stock investments (long-term) 250000 Land 250000 Buildings $300000 Common stock $335000 Less: Accumulated depreciation (55000) Retained earnings 245000 725000 Trademarks 200000 Total stockholders' equity $1060000 Total liabilities and stockholders' equity Total assets $1505000 $1505000 2.91: 1 1.49 1 2.55 1 2.18 1 Use the following data to calculate the current ratio. Nash's Trading Post, LLC Balance Sheet December 31, 2017 Cash $185000 Accounts payable $195000 Accounts receivable Salaries and wages payable 140000 25000 Inventory 150000 Mortgage payable 225000 Prepaid insurance 85000 Total liabilities $445000 Stock investments (long-term) 250000 Land 250000 Buildings $300000 Common stock $335000 Less: Accumulated depreciati (55000) Retained earnings 2 5000 725000 Trademarks 200000 Total stockholders' equity $1060000 Total liabilities and stockholders' equity Total assets $1505000 $1505000 2.91: 1 1.49 1 2.55 1 US Kimmel, Accounting, 6e Gradebook ORION Downloadable eTextbook Practice Assignment signment Time: 07:41 PM/ Remaining: 54 min. Cash $185000 Accounts payable $195000 Accounts receivable 140000 Salaries and wages payable 25000 Inventory 150000 Mortgage payable 225000 Prepaid insurance 85000 Total liabilities $445000 Stock investments (long-term) 250000 Land 250000 Buildings $300000 Common stock $335000 Less: Accumulated depreciation (55000) Retained earnings 245000 725000 Trademarks Total stockholders' equity 200000 $1060000 Total liabilities and stockholders' equity Total assets $1505000 $1505000 2.91 1 1.49: 1 2.55 1 2.18 1