Data table The adjusted trial balance of Bradford Irrigation System at December 31, 2024, follows: (Click the icon to view the adjusted trial balance.) Read the requirements. Requirement 1. Prepare the company's income statement for the year ended December 31, 2024. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use a minus sign or parentheses to show a net loss.) Requirement 2. Prepare the company's statement of retained earnings for the year ended December 31, 2024. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal. Requirement 3. Prepare the company's classified balance sheet in report form at December 31, 2024. (If a box is not used in the balance sheet, leave the box empty; do not select a label or enter a zero.) Requirement 4. Journalize the closing entries for Bradford Irrigation System. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirement 5 . Compute the company's current ratio at December 31,2024 . At December 31,2023 , the current ratio was 1.9 . Did the company's ability to pay debts improve or deteriorate, or did it remain the same? Select the labels then enter the amounts and compute the current ratio. (Round your answer to two decimal places.) \begin{aligned} & \( \div & & \) Current ratio \end{aligned} Since the current ratio was 1.9 one year ago, Bradford's ability to pay its current liabilities has