EA 12.5.3 Using the following Balance Sheet summary information, calculate for the two years presented: A. working capital B. current ratio 12/31/2018 12/31/2019 Current assets $76,000 $295,000 Current liabilities 48,000 163,500 After computing liquidity ratios, comment on the performance of an entity using acceptable standards of liquidity performance PA2. 5.1 The following selected accounts and normal balances existed at year-end. Make the four journal entries required to close the book. Accounts receivable $45,000 Prepaid insurance 4,500 Land 50,000 Accounts payable 39,000 Notes payable 55,000 Retained earnings 12,000 Dividends 2,000 Fees earned revenue 65,000 Selling expenses 34,500 Administrative expenses 12,750 Miscellaneous expense 1,250