The following balance sheet items, listed in alphabetical order, are available from the records of Singer Company at December 31, 2010:

Required
1. Prepare a classified balance sheet as of December 31, 2010.
2. Compute Singer€™s current ratio.
3. On the basis of your answer to (2), does Singer appear to be liquid? What other information do you need to fully answer that question?

$ 34,280 interest payable Accounts receivable Marketable securities buildings Accumulated depreciation- 000 Merchandise inventory Notes payable, due April 15, 2011 6,500 equipment Bonds payable, due Paid-in capital in excess of December 31. 2016 Buildings Capital stock, $1 par value 200,000 Prepaid rent 60,790 Retained earnings 84,500 Salaries payable Income taxes payable