The following information is from the June 30, 20x8, post-closing trial balance of Kissell Hardware Company.

Required
1. From the information provided, prepare a classified balance sheet for Kissell Hardware Company.
2. Compute Kissell Hardware's current ratio and debt to equity ratio.
3. User Insight: As a user of the classified balance sheet, why would you want to know the current ratio or the debt to equity ratio?

Account Name Debit Credit Cash Short-Term Investments Notes Receivable Accounts Receivable Merchandise Inventory Prepaid Rent Prepaid Insurance Sales Supplies Office Supplies Deposit for Future Advertising Building, Not in Use Land Delivery Equipment Accumulated Depreciation-Delivery Equipment Trademark Accounts Payable Salaries Payable Interest Payable Long-Term Notes Payable J. Kissell, Capital $ 31,000 33,000 10,000 276,000 145,000 1,600 4,800 1,280 440 3,680 49,600 22,400 41,200 $ 28,400 4,000 1 14,600 5,200 840 80,000 394,960