2/6/2021 Requirements 1. Prepare the company's income statement for the year ended December 31, 2018. 2. Prepare the company's statement of retained eamings 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 Bradey Irrigation System. 5. Compute the company's current ratio at December 31, 2018. At December 31, 2017, the current ratio was 2.7. Did the company's ability to pay debts improve or deteriorate, or did it remain the same? 2/6/2021 Data Table Bradey Irrigation System Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $ 15,800 Accounts Receivable 45,600 Office Supplies 26,000 Prepaid Insurance 4,600 Building 57,200 Accumulated Depreciation-Building $ 25,400 Equipment 20,000 Accumulated Depreciation-Equipment 7,800 Accounts Payable 33,000 Interest Payable 1,500 Salaries Payable 3,600 Unearned Revenue 1,900 Notes Payable (long-term) 26,500 Common Stock 16,000 Retained Earnings 4,000 Dividends 2,600 Service Revenue 75,900 Insurance Expense 1,300 Salaries Expense 16,000 Supplies Expense 1,400 Interest Expense 1,500 Depreciation Expense-Equipment 2,400 1,200 Depreciation Expense-Building $ 195,600 $ 195,600 Total