Use the following data to calculate the current ratio: Gaddis, Inc. Balance Sheet December 31,2020 Cash$50,000 Accounts Payable 55,000 Prepaid Insurance 30,000 Salaries Payable 10,000 Accounts Receivable 40,000 Mortgage Payable 90,000 Inventory 70,000 Total Liabilities 155,000 Land held for investment 80,000 Land 75,000 Common Stock 120,000 Retained Earnings 250,000 Buildings 90,000 (book value) Total stockholders' equity 370,000 Tradernarks 70,000 Total Liabilities and Stockholder's Equity 525,000 Total Assets 525,000