QUESTION 35 Using the Balance Sheet given below calciate current ratio Cain Auto Supplies Balance Sheet December 31, 2016 $70,000 22.000 Accounts payable Interest payable Mortgage payable Total Liabilities 216,000 314,000 Cash Prepaid insurance Accounts Receivable et Inventory Landheld for investment Land Bulding and Equipment Less accumulated depreciation Trademark Copyright Total Poets $80,000 36,000 60,000 204,000 96,000 90.000 132.000 24.000 34000 30.000 Common Stock Retained Earnings Total stockholders' equity $ 144.000 300.000 444.000 Total Laboties & Stockholder' Equity 5 758,000 1.00