K- The adjusted trial balance of Middleton Design at December 31, 2023, the end of the company's fiscal year, is provided. i(Click the icon to view the adjusted trial balance.) Required 1. Prepare Middleton Design's income statement and statement of owner's equity for the year ended December 31, 2023, and the classified balance sheet on that date. Use the account format for the balance sheet. 2. Journalize the closing entries. Include explanations. 3. Compute Middleton Design's current ratio and debt ratio at December 31, 2023. One year ago, the current ratio stood at 1.15 and the debt ratio was 0.46. Did Middleton Design's ability to pay debts improve or deteriorate during fiscal 2023? ATTER

Required diso Uie tire acoount forimat for the boianco then! Adpuiled Trial B-alnon Autisted Truta Bulance Adjusted Trual Belsnoe Required diso Uie tire acoount forimat for the boianco then! Adpuiled Trial B-alnon Autisted Truta Bulance Adjusted Trual Belsnoe