Selected financial information for JPC Enterprises as of December 31, 2014, follows:

Additional information:
1. All accounts have normal balances.
2. $17,250 of the mortgage payable will be paid before December 31, 2015.
3. The company intends to keep its investment in bonds (a debt instrument) until the bonds mature in 2020.
4. The notes payable are payable on May 17, 2015.
Instructions
(a) Prepare a classified balance sheet.
(b) Calculate working capital, the current ratio, and the acid-test ratio.
(c) Comment on the company's liquidity?

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Accounts payable Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment $210,100 197,000 79,900 $105,600 Merchandise inventory 173,200 230,000 55,000 34,700 6,900 28,700 10,100 27,400 1,100 Mortgage payable 256,300 Notes payable 7 Debt investments Equity investments Interest payable 16,500 62,600 92,100 45,800 36,000 16,500 376,400 Notes receivable (due in 2016) Prepaid expenses Salaries payable Supplies Unearned revenue J. Chrowder, capital