$1.$ Prepare a classified balance sheet as of January $31,2024$ in good form like you would present it to a client $($i$.$e$.$ proper heading, dollar signs, underlining, no abbreviations or misspelling$).$

$2.$ Calculate working capital and the current ratio. $($round the ratio to $2$ places past the decimal$)$

Debits

Cash $218,100$ Accounts receivable $114,860$ Allowance for doubtful accounts

Investments $213,600$ Inventories $213,572$ Prepaid insurance $16,020$ Land $190,000$ Equipment $167,000$ Accumulated depreciation $-$ equipment

Buildings $308,080$ Accumulated depreciation $-$ buildings

Accounts payable

Interest payable

Unearned revenue

Notes payable

Common stock

Additional paid$-$in capital in excess of par Retained earnings

Treasury stock $26,700$ Accumulated other comprehensive income $($loss$)23,884$ Dog food sales

Cost of goods sold $73,400$ Marketing expense $42,250$

$ $1,607,466$

$

Credits

$-$

$-26,020$

$---$

$-33,500$

$-135,640$

$64,08019,22496,120$

$373,800124,000177,280163,600$

$-$

$-394,202$

$--$

$1,607,466$

Additional Information

$1)$

The balance in the Cash account includes the following items:

A commercial checking account at Snoopy State Bank

A commecial checking account at Benji Bank

A commercial checking account at Lassie National Bank with an overdraft balance

A Petty cash fund

A money market fund with check writing privileges Coins and currency

A separate cash fund restriced for construction of a new doggie daycare facility in $3$ years

A certificate of deposit that matures in $45$ days

A certificate of deposit that matures in $180$ days

The Investments account includes the following items:

Doggie Delights has purchased commercial paper in Old Yeller Company which is due in $30$ days

Investments in common stock that company management intends to hold several years

Investments in bonds that mature May $7,2024$

$

The land account includes $$75,000$ of land whch was purchased in anticipation of future expansion

$1.$ The notes payable account consists of the following separate notes:

a$.$ a $$23,800$ note due in five months

b$.$ a $$120,000$ note due in five years

c$.$ a $$230,000$ note due in five equal annual installments beginning February $29,2024$

$($Yes$,$ it's leap year.$)$

The corporation has $150,000$ shares of $$2$ par common stock authorized and $52,000$ shares are currently outstanding. $($You must compute the number of shares issued$)$

The Treasury stock consists of $10,000$ shares which are recorded at cost$.$

$

$46,750$

$69,000(44,500)$

$2,67031,1501,780$

$53,40022,25035,600$

$218,100$

$21,360106,800$

$2)$

$3)4)$

$5)6)$

$85,440213,600$