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Income taxes payable $19,960 24,290 Interest payable Accounts payable Accounts receivable Accumulated depreciation - automobiles Accumulated depreciation - buildings $6,530 1,455 48,740 24,320 Inventory Land 240,000 Automobiles 81,525 11,000 38,190 121,600 161,000 190,950 158,000 13,000 Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value 2,280 47,000 Patents 43,000 Prepaid rent 1,460 Retained earnings 295,445 Salaries and wages payable 3,945 Daaniad Balance Sheet December 31, 2017 Assets Current assets: Cash 13,000 Accounts receivable 24,290 Inventory 48,740 Prepaid rent 1,460 Office supplies 2,280 $ 89,770 Total current assets Long-term investments 81,525 Property, plant, and equipment: Land $ 240,000 Automobiles $ 121,600 Accumulated depreciation 24,320 97,280 Buildings $ 190,950 Accumulated depreciation 38,190 152,760 43,000 Total property, plant, and equipment Intangible assets: Long-term investments x 81,525 Total assets 704,335 Liabilities Current liabilities: Accounts payable 19,960 Income taxes payable 6,530 Interest payable 1,455 Notes payable, due June 30, 2018 11,000 Salaries and wages payable 3,945 Total current liabilities Long-term debt: Bonds payable, due December 31, 2021 161,000 Total liabilities 203,890 Stockholders' Equity Contributed capital: mini Total contributed capital Total stockholders' equity Total liabilities and stockholders' equity 704,335 2. Compute Ruth's current ratio. Round your answer to two decimal places. 2.814 X to 1

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