The current asset section of the Excalibur Tire Companys balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The December 31, 2021, balance sheet revealed the following:

Inventory	$	1,010,000
Total assets	$	3,600,000
Current ratio		2.20
Acid-test ratio		1.20
Debt to equity ratio		1.5

Required: Determine the following 2021 balance sheet items:

1.	Current assets	$2,222,000selected answer correct
2.	Shareholders' equity	$1,440,000selected answer correct
3.	Long-term assets	$1,378,000selected answer correct
4.	Long-term liabilities	$1,057,000selected answer incorrect