Several accounts that appeared on Kruses 2010 balance sheet are as follows:
Accounts payable 55,000
marketable securities 40,000
accounts recievable 180,000
notes payable, 12%, due in 60 days 20,000
capital stock 1,150,000
salaries payable 10,000
cash 15,000
equipment 950,000
taxes payable 15,000
retained earnings 250,000
inventory 85,000
allowance for doubtful accounts 20,000
land 600,000
1. Prepare the current liabilities section of Kruses 2010 balance sheet
2. compute Kruses working capital
3. compute kruses current ratio. What does this ratio indicate about kruses condition?