The December 31, 2007 balance sheet accounts of the Hitt Company are shown here in alphabetical order:

Required
1. Prepare the December 31, 2007 balance sheet of the Hitt Company.
2. Compute the working capital and the currentratio.

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10,400 6,900 72,400 37,200 30,000 24,000 Marketable securities (short-term) 6,100 9,800 21,000 46,200 2,000 3,700 22,400 21,500 53,000 35,100 Current taxes payable Accounts payable Accounts receivable Accumulated depreciation: buildings Accumulated depreciation: equipment Additional paid-in capital on common stock Additional paid-in capital on Discount on bonds payable Equipment Inventory Land Patents (net) Preferred stock, $100 par preferred stock Allowance for doubtful accounts Bonds payable (due 2021) Buildings Cash Common stock, $10 par 11,500 800 Reined earnings 77,000 Salaries payable 144,000 Trademarks Unrealized increase in value of 2,900 30,000 marketable securities 1,100