i Requirements 1. Prepare the company's income statement for the year ended December 31, 2018. 2. Prepare the company's statement of retained earnings for the year ended December 31, 2018. 3. Prepare the company's classified balance sheet in report form at December 31, 2018. 4. Journalize the closing entries for Bennett Irrigation System. 5. Compute the company's current ratio at December 31, 2018. At December 31, 2017, the current ratio was 1.7. Did the company's ability to pay debts improve or deteriorate, or did it remain the same? Print Done vet Bennett Irrigation System Adjusted Trial Balance December 31, 2018 Balance Credit Account Title Debit 15,800 Cash $ Accounts Receivable 45,600 600 4,500 57,200 $ 25,100 Office Supplies Prepaid Insurance Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Salaries Payable 25,000 7,300 28,300 2,400 2,900 28,300 2,400 Accounts Payable Interest Payable Salaries Payable 2,900 1,400 Unearned Revenue Notes Payable (long-term) 6,100 Common Stock 14,000 Retained Earnings 14,000 Dividends 3,200 Service Revenue 75,100 1,400 16,200 1,400 Insurance Expense Salaries Expense Supplies Expense Interest Expense Depreciation Expense-Equipment Depreciation Expense-Building 2,400 2,200 1,100 Total $ 176,600 $ 176,600