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Question Completion Status: A company partial classified balance sheet on December 31, 2019 contains the following accounts: Current Assets: Cash $9,400 Supplies 1,200 Accounts receivable 18,000 Merchandise inventory 60,000 Total current assets $88,600 Property, plant and equipment: Land $55,000 $100,000 Building Accumulated depreciation Total pro. Plant & equip. (15,000) 85,000 $140,000 Current Liabilities: Salaries payable $14,000 Taxes payable 7,000 Rerit payable 2.000 Remaining Time: 2 hours, 54 minutes, 33 seconds. Question Completion Status: Rent payable 2,000 Total current liabilities $23,000 Long term liabilities: Mortgage payable $70,000 Required: a. Compute the current ratio for this company b. Explain it to the chief executive, emphasizing both a vertical and horizontal analysis. c. is the ratio good or bad? Explain. 1.2 TTTT Paragraph Aral %D0Q v3 (12pt) TT