please answer requirement 3

Liabilities; Med. = Medical; Rev. = Revenue; Sal. = Salaries; Sup. = Supplies. ) 7/6 More info \begin{tabular}{ll} \hline Jul. 6 & Received a contribution of $65,000 from Stamford and opened a bank account in the \\ & name of P. Stamford, MD. The corporation issued common stock to Stamford. \\ Jul. 9 & Paid $50,000 cash for land. \\ Jul. 12 & Purchased medical supplies for $1,800 on account. \\ Jul. 15 & Officially opened for business. \\ Jul. 20 & Paid cash expenses: employees' salaries, $1,000; office rent, $700; utilities, $350. \\ Jul. 31 & Earned service revenue for the month, $12,000, receiving cash. \\ Jul. 31 & Paid $1,400 on account. \end{tabular} [atatale Data table Requirements 1. Prepare the company's income statement for the year ended December 31, 2024. 2. Prepare the company's statement of retained earnings for the year ended December 31, 2024. 3. Prepare the company's classified balance sheet in report form at December 31, 2024. 4. Journalize the closing entries for Bradey Irrigation System. 5. Compute the company's current ratio at December 31, 2024. At December 31, 2023, the current ratio was 1.9. Did the company's ability to pay debts improve or deteriorate, or did it remain the same