The accounts below, in alphabetical order, are adapted from Danier Leather Inc.€™s recent statement of financial position (amounts in thousands of dollars):

Required
1. Prepare, in good form, a classified statement of financial position (with two years reported) for Danier Leather Inc. Assume a fiscal year-end of June 30.
2. Compute the company€™s current ratio for the current year. How would you interpret this ratio of Danier Leather?

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Current Prior Year C Prior Year Year Year Accounts payable and accrued liabilities $10,161 $11,024 ncme taxes payable $ Inventories Non-current liabilities Prepaid expenses and 278 24,891 28,964 1,318 Accounts receivable 517 385 1,373 Cash Contributed capital other current assets ,225 34.332 28,698 15,965 16,094 901 Property and Deferred income tax asset 1,909 ,678 1536 equipment, net 15,738 15,458 Deferred revenue 1,587 Retained earninas 49,526 45,834