Data table Requirement 1. Prepare Nicholl Corporation's 2021 single-step income statement, statement of retained earnings, and balance sheet. The adjusted trial balance for the year of Nicholl Corporation at October 31,2021 , follows. (Click the icon to view the adjusted trial balance.) Read the requirements. Use only the account names provided in the adjusted trial balance.) Nicholl could have avoided this difficult situation. Begin by selecting the labels and then enter the amounts to compute Nicholl's debt ratio at October 31,2021 . (Round your calculation to two decimal places.) = Debt ratio = Nicholl's lenders require that the company maintain a debt ratio no higher than 0.50. Nicholl is with this debt restriction at October 31, 2021. All of the following events at a retail store are transactions except A. The accountant for the store pays the electric bill. B. A representative from a regional restaurant chain contacts C. A delivery of hand sanitizer purchased on account from the D. A customer purchases a pack of paper towels. In a double-entry accounting system, A. half of all the accounts have a normal credit balance. B. a debit entry is recorded on the left side of a T-account. C. liabilities, stockholders' equity, and revenue accounts all have normal debit balances. D. both a and b are correct