-5 18.200 3.000 Cash 91.000 17.000 25.000 Funre 3.500 +2.800 10300 900 1,000 Lang 110,000 Leng-term notes pye 163.000 Notes recevable, de 2023 143.000 once les expense 126,625 office supplies 700 Office supplies expense Prepaid adverting Rent revenue.. Rent receivable Salaries payable U expense) Wyett North capital Wyelt North, withdrawals. Assume all accums have a normal balance 5.100 400 38.400 16.000 2.625 36.720 415,780 20,000 Required 1. Calculate the capital balance as it would appear on the March 31, 2020, balance sheet. 2. Prepare a classified balance sheet. Assume that $215,000 of the Long-Term Notes Payable will be paid during the year ended March 31, 2021. Also, $55,000 of the notes receivable will be collected by March 31, 2021. 3 Calculate the current ratio and the debt to equity ratio (round to two decimal places). Inalysis Component: North Country shows an adjusted balance in the Long Term Notes Payable account 62,000 at March 31, 2020. Review the balance sheet just prepared and make a reasonable assumption abc at the $362,000 was most logically used for by North Country. Explain whether or not this is generally c ered a good use of borrowed funds and why.