Use the following data to calculate the current ratio

Koonce Office Supplies Balance Sheet December 31, 2017 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings Less: Accumulated S 195,000 150,000 165,000 90,000 255,000 270,000 Accounts payable Salaries and wages payable Mortgage payable 210,000 30,000 Total liabilities S480,000 Common stock Retained eamings S315,000 S360,000 Total stockholders' equity S1,110,000 stockholders' equity $1.590.000 depreciation (60,000) 275,000 Trademarks Total assets Total liabilities and