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Selected financial information for Blossom as at December 31, 2021, follows: Accounts payable $208,000 Land $103,000 Accounts receivable 190,000 Licences 57,000 Accumulated depreciation-building 75,000 Long-term equity investments 44,000 Building 253,000 Mortgage payable 216,000 Cash 15,500 Notes payable 54,000 Goodwill 35,000 Prepaid expenses 6,500 Interest payable 16,000 Salaries payable 27,500 J. Chrowder, capital 91,000 Supplies 10,000 Unearned revenue 26,500 Additional information: 1. All accounts have normal balances. 2. $16,000 of the mortgage payable will be paid before December 31, 2022. 3. The notes payable are payable on May 17, 2022. irrent Assets sh counts Receivable epaid Expenses pplies tal Current Assets ng-term Investments uity Investments operty, Plant, and Equipment nd BLOSSOM Balance Sheet December 31, 2021 Assets 103,000 ilding 253,000 ss Accumulated Depreciation-Building 75,000 i 281,000 tal Property, Plant and Equipment angible Assets odwill ences tal Assets rrent Liabilities counts Payable erest Payable Liabilities and Owner's Equity $ rrent Portion of Mortgage Payable laries Payable learned Revenue rrent Liabilities ng-term Liabilities ortgage Payable vner's Equity vner's Equity Chrowder, Capital tal Liabilities and Owner's Equity $ Working capital $ Current ratio Acid-test ratio eTextbook and Media Your answer is incorrect. Identify the company's liquidity. The company's liquidity is very poor 1 1

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