Debit
Credit
Cash
$15,000
Accounts Receivable
9,000
Prepaid Rent
6,000
Prepaid Insurance
2,100
Supplies
3,300
Land
45,000
Building
51,000
Accumulated Depreciation-Building
$11,000
Equipment
39,000
Accumulated Depreciation-Equipment
7,300
Accounts Payable
5,400
Salaries Payable
4,300
Interest Payable
2,500
Mortgage Payable (long term)
5,000
Common Stock
13,000
Dividends
1,700
Service Revenue
232,500
Salaries Expense
45,500
Insurance Expense
5,000
Rent Expense
12,500
Utilities Expense
17,000
Advertising Expense
9,500
Depreciation Expense-Building
10,400
Depreciation Expense-Equipment
7,300
Supplies Expense
1,700
Total
$281,000
$281,000
Compute the current ratio. (Round your answer to two decimal places.)