1. Total Assets 562,600 MELANIE OMALLE DANCE STUDIO COMPANY Trial Balance August 31, 2018 Account Title Cash Office Supplies Prepaid Rent Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) O'Mallie, Capital O'Mallie, Withdrawals Service Revenue Salaries Expense Rent Expense Balance Debit Credit $ 16,000 1,800 1,500 49,000 $ 5.700 4,800 100 5,000 5,400 37,000 1,100 18,100 3,600 1,100 400 500 1,100 $ 76,100 $ 76,100 Depreciation Expense Equipment Supplies Expense Utilities Expense Total Requirements 1. Prepare the classified balance sheet of Melanie O'Mallie Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of O'Mallic, Capital 2. Compute O'Mallie's current ratio at August 31, 2018. One year ago, the cur- rent ratio was 1.76. Indicate whether O'Mallie's ability to pay current debts has improved, deteriorated, or remained the same. E4-22 Preparin 2. Preparing closing entries from T-accounts Selected accounts for Kebby Photography at December 31, 2018, follow: Kebby, Capital 49,000 Kebby, Withdrawals 14,000 Service Revenue 33,000 4,500 Salaries Expense 31,800 1,400 Supplies Expense 2,700 Depreciation Expense-Building 7,000 Depreciation Expense-Furniture 1,500 Requirements 1. Journalize Kebby Photography's closing entries at December 31, 2018. 2. Determine Kebby Photography's ending Kebby, Capital balance at December 31, 2018