Current Attempt in Progress Use the following data to calculate the current ratio. Novak Corp Balance Sheet December 31, 2022 $204000 Cash $198000 Accounts payable Salaries and wages payable 30000 Accounts receivable 148000 169000 239500 Inventory Mortgage payable 87000 Total liabilities $473500 Prepaid insurance Stock investments (long-term) 252000 Land 280000 $392500 Buildings $311000 Common stock 737000 Less: Accumulate depreciation (65000) 246000 Retained earnings Goodwill 223000 $1129500 Total stockholders' equity Total liabilities and stockholders' equity $1603000 Total assets $1603000 2.57:1 2.20:1 1.51:1 2.93:1