Fisk University ACC 240 Test on Chaps 16 & 17 1) The balance sheet of Atlantis Inc. is below: Atlantis Inc. Comparative Balance Sheet December 31, 2016 and 2015 $200,000 $100,000 perty Plant and Equipment, Net Total Current Liabilities term Debt Total Stockholders Equity Total Liabilities and Stockholders Equity S800000 $650D00 Calculate the current ratio for each year. 2) Karaoke Company uses the indirect Fashion Company Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Incmilsaldoctcase Accounts Payable Accrued Liabilities 125.000 135.000 Total liabilitiei si si 5500 sag Retained Earnings Stock 111,000 Total equity 202,500 106,500 Total liabilities and equity 332.500 252.000 Additional information: No stock was retired. No treasury stock was sold During 2014, the company repaid s60,000 of long-term notes payable During 2014, the company borrowed S51,000 on a new long term note payable Net income for the year was s68,000. Prepare the financing section of the statement of cash flows