Use the following data to calculate the current ratio. Concord Corporation Balance Sheet December 31, 2022 $128300 120000 213900 89000 251000 289500 Accounts payable Salaries and wages payable Note payable (due 2025) Total liabilities Cash Accounts receivable Inventory Short-term investments Land (held for future use) Land Buildings Less: Accumulated depreciation Franchise $156000 34500 273400 $463900 $338000 (64800) 273200 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $363000 751300 $1114300 $1578200 213300 $1578200 Total assets O 2.43 : 1 2.89 : 1 3.40:1 1.35 : 1