1. Please use the information from the worksheet below to construct a Balance Sheet for Magic Company. 2. Please calculate the current ratio for the company. (Current Ratio=Current Assets/Current Liabilities) 3. Based on the Balance Sheet from Question 1, if the company pays off $3,000 of the long-term payable, what is the new current ratio? 4. Based on the Balance Sheet from Question 1 , if the company pays off $3,000 of the account payable, what is the new current ratio