1. Use the data in the partial worksheet to prepare Crawford Production Company's classified balance sheet at December 31 of the current year. Use the report format. First you must calculate the adjusted balance for several of the balance-sheet accounts. 2. Calculate Crawford Production Company's net working capital, current ratio, and debt ratio at December 31. A year ago, net working capital was $5,000, the current ratio was 1.54, and the debt ratio was 0.59. Indicate whether the company's ability to pay its debts-both current and total-improved or deteriorated during the current year Account Debit Credit Debit Credit Debit Credit Cash 15,000 Prepaid rent 1,000 Equipment 42,000 Accumulated depreciation- equipment 6,700 Accounts payable 4,000 Salary payable Unearned service revenue 8,600 Income tax payable Notes payable, long-term Common stock Retained earnings 11,000 8,300 13,000 Dividends Service revenue Salary expense Rent expense Depreciation Expense-equipment Income tax expense 1,000 13,300 18,300 4,200 4,800 1,700 2,100 900 1,800 Service revenue 13,300 18,300 Salary expense 4,200 4,800 Rent expense 1,700 2,100 Depreciation Expense-equipment 900 Income tax expense 1,800 64,900 64,900 $ 9,600 $ 18,300 Total Date Accounts Debit Dec 31 Unearned Service Revenue 5,000 Service Revenue Dec 31 Salary Expense Salary Payable Dec 31 Rent Expense Credit 5,000 600 600 400 Dec 31 Rent Expense Prepaid Rent Dec 31 Depreciation Expense Accumulated Depreciation-Equipment Dec 31 Income Tax Expense Income Tax Payable 400 400 900 900 1,800 1,800