Use the following data to calculate the current ratio. Ace Supply Company Balance Sheet December 31, 2025 Cash $128300 Accounts payable $168500 Accounts receivable 121100 Salaries and wages payable 26200 Inventory 214700 Note payable (due 2028) 267800 Short-term investments 87100 Total liabilities 462500 Land (held for future use) 254500 Land 285500 Buildings $335500 Common stock 355000 Less: Accumulated depreciation (59500) 276000 Retained earnings 754500 Franchise 204800 Total stockholders' equity 1109500 Total assets $1572000 Total liabilities and stockholders' equity $1572000