Several accounts that appeared on Spring's 2017 balance sheet are as follows: Accounts Payable $77,000 Equipment $950,000 Marketable Securities 40,000 Taxes Payable 15,000 Accounts Receivable 164,800 Retained Earnings 250,000 Notes Payable, 12%, due in 60 days 20,000 Inventory 165,000 Capital Stock 1,150,000 Allowance for Doubtful Accounts 20,000 Salaries Payable 10,000 65,000 Land 600,000 Cash Required: 1. Prepare the Current Liabilities section of Spring's 2017 balance sheet. Spring Partial Balance Sheet As of December 31, 2017 Current liabilities: Accounts payable 77,000 Notes payable, 12%, due in 60 days 20,000 Taxes payable 15,000 Salaries payable Total current liabilities Feedback 10,000 122,000 Check My Work Prepare the liabilities section of the balance sheet. 2. Compute Spring's working capital. x 3. Compute Spring's current ratio. Round your answer to one decimal place. X 1 What does this ratio indicate about Spring's condition? It seems that Spring has sufficient current assets to meet its short-term obligations