use the following data to calculate the current ratio.

Ace Supply Company Balance Sheet December 31, 2025 Cash Accounts receivable Inventory Short-term investments Land (held for future use) Land Buildings Less: Accumulated depreciation Franchise Total assets 0 2.55:1 0 3.58:1 0 3.07:1 $340000 (64400) $129000 125000 203000 93000 258000 284000 275600 206200 $1573800 Accounts payable Salaries and wages payable Note payable (due 2028) Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $153500 25400 268000 361500 765400 1126900 $1573800