Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31, 2014 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings $140,000 $20,000 $160,000 $320,000 $130,000 Accounts payable $100,000 Salaries and wages payable $110,000 Mortgage payable $60,000 Total liabilities $170,000 $180,000 $210,000 Common stock $240,000 Less: Accumulated depreciation ($40,000) $170,000 Retained earnings $500,000 Trademarks $740,000 arks $140,000 Total stockholders' equity Total liabilities and stockholders' $1.060.000 equity Total assets $1.060,000 2.50:1 2.13:1 1.44:1 2.86:1