Accounts from Max Companys 12/31/16 adjusted pre-closing trial balance appear below: Accounts Payable 10,000 Accounts Receivable 22,500 Accumulated Depreciation - Equipment 43,000 Allowance for Doubtful Accounts 3,000 Bad Debt Expense 1,100 Bonds Payable (due 12/31/18) 53,000 Cash 31,800 Common Stock 42,200 Cost of Goods Sold 97,000 Depreciation Expense 2,300 Equipment 122,900 Interest Expense 3,800 Merchandise Inventory 39,000 Prepaid Rent 7,100 Rent Expense 15,800 Retained Earnings (beginning balance) 18,000 Salaries and Wage Expense 55,100 Salaries Payable 4,200 Sales Revenue 225,000 First classify the accounts above (asset, liability, equity, revenue, expense). Then calculate net income and determine the ending balance of retained earnings. Finally prepare a classified balance sheet (current vs long term) using the information above. Using balance sheet, answer the questions below. 1. What is the total amount reported as Current Assets as of 12/31/16? 2. What is the total amount reported as Total Liabilities as of 12/31/16? 3. What is the total amount report as Total Stockholders Equity as of 12/31/16? 4. Calculate the Debt to Equity ratio as of 12/31/16 and briefly discuss what this means. 5. Calculate the Current Ratio as of 12/31/16 and briefly discuss what this means.