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Superior Hardwood Company distributes hardwood products to small furniture manufacturers. T below is from the firm's worksheet for the year ended December 31, 2019 $ 22,9e8 480 18,680 85,800 Cash Petty Cash Fund Notes Receivable, due 2828 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation Warehouse Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment Office Equipment Accumulated Depreciation-office Equipment Notes Payable, due 2828 Accounts Payable Interest Payable Mortgage Payable Loans Payable, Long-ters Charles Ronie, Capital (Jan. 1) Charles Ronie, Drawing Incone Surmary Sales Sales Returns and Allowances Interest Income s 4,88e 222,888 2,748 1,380 6,600 34,808 166,880 46,889 13,800 17,288 31,880 45,88 19,808 8,488 19,888 37,880 468 55,808 11,008 358,568 125,888 232,000222,880 1,689,86e 17,880 1,468 755,888 12,688 chases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expense-Sales Travel and Entertainment Expense Delivery Wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Property Taxes Expense 7,248 9,968 187,688 5,988 4,600 257, 280 28,380 59,138 8,600 69,400 2,888 5,88e 8,890 5,328 53,800 4,480 4,600 7,808 2,880 Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals 7,80 $2,502,480 $2,582,488 Complete this question by entering your answers in the tabs below Required 1Required2 Required 3 Analyze Prepare a classified income statement for the year ended December 31, 2019. The expense accounts represent warehou expenses, selling and general and administrative xpenses Income Stadement Operating revenue Add Sales retums and allowanoes Net sales Cost of goods sold Merchandise inventory January 1, 2019 Delivered cost of purchases Net delivered cost of purchases Total merchandise available for sale Gross proft on sales Operating expenses expenses Selling expenses General and administrative axpenses Net delivered cost of purchases Total merchandse avilable for sale Gross proft on salers Total warehouse expenses Seling expenses Total selling expenses Totail general and administrative exp Income from operations Other inoome Other expenses Net income for year Required 2 Totals $2,582,488 $2,582,488 Required: 1 Prepare a classified income statement for the year ended December 31, 2019. The ex expenses, selling expenses, and general and administrative expenses. 2 Prepare a statement of owner's equity for the year ended December 31, 2019. No add period 3. Prepare a classified balance sheet as of December 31, 2019. The mortgage payable e: Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below Required 1 Required 2Required 3 Analyze pare a statement of owner's equity for the year ended December 31, 2019. No additional i the period SUPERIOR HARDWOOD COMPANY Statement of Owner's Equity Totals Required: 1 Prepare a classified income statement for the year ended December 31, 2019. Th expenses, selling expenses, and general and administrative expenses. 2 Prepare a statement of owner's equity for the year ended December 31, 2019. Na period. 3. Prepare a classified balance sheet as of December 31, 2019. The mortgage payat Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a dassified balance sheet as of December 31, 2019. The mortgage payable exte SUPERIOR HARDWOOD COMPANY Balance Sheet Assets Current assets Prepaid expenses Total current assets Plant and equipment Expense-Office Equi Interest Expense Totals 2,880 7,000 $2,582,488 $2,50 Required: 1 Prepare a classified income statement for the year ended December 31, expenses, selling expenses, and general and administrative expenses. 2 Prepare a statement of owner's equity for the year ended December 31, period. 3. Prepare a classified balance sheet as of December 31, 2019. The mortga Analyze What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3Analyze What is the current ratio for this business? (Round your answer to 2 decimal pla t ratio Required 3 Analyz ere to search