Refer back to Problem 3-64A.

Requirements
1. Use the Granger Services data in Problem 3-64A to prepare the company's classified balance sheet at January 31, 2016. Show captions for total assets, total liabilities, and total liabilities and stockholders' equity.
2. Compute Granger's net working capital, current ratio, and debt ratio at January 31, 2016, rounding to two decimal places. At January 31, 2015, net working capital was $22,600, the current ratio was 1.90, and the debt ratio was 0.15. Did Granger's ability to pay both current and total debts improve or deteriorate during fiscal 2016? Evaluate Granger's debt position as strong or weak and give your reason.

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500 Accounts receivabl.e...17,000 Note payable, long term... 16,000 Other assets, long-term . 13,700 Accumulated depreciation, 6,500 Prepaid expenses... 5,900 equipmen Advertising expense. Cash Common stock. Current portion of long-term 11,300 Retained earnings, 5,300 alary expense. 1,900 Service rev 13,300 26,100 3,400 95,000 3,500 January 31, 2015 ..5 Salary payable.. note payable. 12,500 Supplies expense..4,60 Equipment 42,000 Unearned service revenue..2,800