Refer to Problem 3-56B.
1. Use the For You eTravel Inc. data in problem P3-56B to prepare the company's classified balance sheet at December 31, 2017. Show captions for total assets, total liabilities, and total liabilities and shareholders' equity.
2. Evaluate For You's debt position as strong or weak, giving your reason. Assess whether For You's ability to pay both current and total debts improved or deteriorated during 2017. In order to complete your evaluation, compute For You's current and debt ratios at December 31, 2017, rounding to two decimal places. At December 31, 2016, the current ratio was 1.50 and the debt ratio was 0.45.
Data from 3-56B
The accounts of For You eTravel Inc. at December 31, 2017, are listed in alphabetical order.