2. Compute the following measures of profitability for 2013 and 2014: (a) profit mar- gin, (b) asset turnover, (c) return on assets, (d) debt to equity ratio, and (c) return on equity. Comment on the change in performance from 2013 to 2014. (Round to one decimal place.) Classified Balance Sheet P2. The information that follows is trom Cullen's Hardware Company's June 30, 2014, post-closing trial balance. Account Name Debit Credit Cash 42,800 Short-Term Investments 34,300 Sales Supplies 1,280 Merchandise Inventory 145,000 Prepaid Rent 2,100 Prepaid Insurance 4,800 Accounts Receivable 287,000 Office Supplies 440 E. Cullen, Capital 412,660 Notes Receivable 10,000 Land 31,400 Delivery Equipment 43,200 Accumulated Depreciation-Delivery Equipment 28,400 Trademark 4,000 Accounts Payable 124,600 Salaries Payable 7,700 Deposit for Future Advertising Interest Payable 840 Long-Term Notes Payable Building, Not in Use 44,200 654,200 654,200 3,680 80,000 REQUIRED 1. Prepare a classified balance sheet for Cullen's Hardware Company. 2. BUSINESS APPLICATION Compute Cullen's Hardware's current ratio and debt to equity ratio. (Round to one decimal place.) 3. BUSINESS APPLICATION As a user of the classified balance sheet, why would you want to know the current ratio or the debt to equity ratio