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em at December 31, 2018, follows: i Requirements 1. Prepare the company's income statement for the year ended December 31, 2018. 2. Prepare the company's statement of retained earnings for the year ended December 31, 2018. 3. Prepare the company's classified balance sheet in report form at December 31, 2018. 4. Journalize the closing entries for Brinney Irrigation System. 5. Compute the company's current ratio at December 31, 2018. At December 31, 2017, the current ratio was 2.3. Did the company's ability to pay debts improve or deteriorate, or did it remain the same? Print Done Brinney Irrigation System Adjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title Cash $ 12,900 Accounts Receivable 48,500 5,800 5,000 58,000 $ 23,800 20,000 Office Supplies Prepaid Insurance Building Accumulated Depreciation Building Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Salaries Payable Unearned Revenue 7,000 30,600 2,400 3,600 1,400 Notes Payable (long-term) 3,700 Common Stock 13,000 Accumulateu DepreciationBuliding 23,000 20,000 Equipment Accumulated Depreciation Equipment Accounts Payable 7,000 30,600 Interest Payable 2,400 Salaries Payable 3,600 Unearned Revenue 1,400 Notes Payable (long-term) 3,700 Common Stock 13,000 Retained Earnings 23,000 Dividends 2,400 68,000 1,300 15,800 Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Depreciation Expense-Equipment 800 2,400 2,300 1,300 Depreciation Expense-Building Total $ 176,500 176,500 $