Use the following data to calculate the current ratio. (Current Assets/Current Liabilities)

Eddy Auto Supplies Balance Sheet December 31, 2017

Cash $ 126,000 Accounts payable $ 165,000

Accounts receivable 120,000 Salaries and wages payable 30,000

Inventory 210,000 Mortgage payable 270,000

Prepaid insurance 90,000 Total liabilities $465,000

Stock investments 255,000

Land 285,000

Buildings $339,000 Common stock $360,000

Less: Accumulated Retained earnings 750,000

depreciation (60,000) 279,000 Total stockholders equity $1,110,000

Trademarks 210,000 Total Liabilities and

Total assets $1,575,000 stockholders equity $1,575,000