Review the balance sheet for JKL Industries as of December 31, 2023, to understand its financial stability and risk.

JKL Industries Balance Sheet	As of December 31, 2023
Assets
Current Assets
Cash	$40,000
Accounts Receivable	$45,000
Inventory	$30,000
Prepaid Expenses	$10,000
Total Current Assets	$125,000
Non-Current Assets
Property, Plant, and Equipment (PPE)	$250,000
Less: Accumulated Depreciation	$70,000
Net PPE	$180,000
Intangible Assets (Software)	$45,000
Total Assets	$350,000
Liabilities and Shareholders' Equity
Current Liabilities
Accounts Payable	$25,000
Short-term Debt	$15,000
Accrued Liabilities	$10,000
Total Current Liabilities	$50,000
Non-Current Liabilities
Long-term Debt	$100,000
Total Liabilities	$150,000
Shareholders' Equity
Common Stock	$150,000
Retained Earnings	$50,000
Total Shareholders' Equity	$200,000
Total Liabilities and Shareholders' Equity	$350,000

Questions:

1. Calculate the current ratio and explain its implications for the company’s ability to cover short-term liabilities.
2. Determine the long-term debt to equity ratio and discuss its importance in assessing financial risk.
3. Assess the impact of intangible assets on the equity multiplier ratio and explain its significance.