Papa John's International Inc. operates and franchises pizza delivery and carryout restaurants worldwide. The following is a condensed alphabetical list of accounts and amounts reported in its financial statements for 2021. The accounts have normal debit or credit balances and their balances are rounded to the nearest million dollars. The company's fiscal year ends on December 31. Account Title Accounts payable... Accounts receivable. Accrued liabilities....... Allowance for doubtful accounts......... Balance $ 37 109 175 7 Account Title Accounts payable.. Accounts receivable... Accrued liabilities.......... Allowance for doubtful accounts.......... Bad debt expense...... Cash and equivalents.. Balance $ 37 109 175 7 11 107 23 Credit card discounts. 1,469 Cost of sales.... Deferred revenue (current).. 33 50 Depreciation expenses........ General and administrative expenses.. 204 Goodwill........... Income tax expense Income tax payable Interest expense... Inventories... Investment income.... Long-term debt... 81 15 10 17 30 2 166 Inventories........... Investment income.. Long-term debt..... Other non-current assets.. Other non-current liabilities... Prepaid expenses......... Property, plant, and equipment, net.. Sales revenue.... Shareholders' equity... Short-term borrowings..... 30 2 166 120 112 43 355 1,813 232 47 REQUIRED: 1. Prepare a multiple-step (classified) statement of earnings for the year ended December 31. (9 marks) 2. Compute the values of two ratios that are based on information reported in the statement of earnings that you prepared and interpret the results