Part B Accounts from Max Company's 12/31/18 adjusted pre-closing trial balance appear below: Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Allowance for Doubtful Accounts Bad Debt Expense Bonds Payable (due 12/31/20) Cash Common Stock Cost of Goods Sold Depreciation Expense Equipment Interest Expense Merchandise Inventory Prepaid Rent ent Expense Retained Earnings (beginning balance) Salaries and Wage Expense Salaries Payable Sales Revenue 10,000 22,500 43,000 3,000 1,100 53,000 31,800 42,200 97,000 2,300 122,900 3,800 39,000 7,100 15,800 18,000 55,100 4,200 225,000 First classify the accounts above (asset, liability, equity, revenue, expense). Then calculate net income and determine the ending balance of retained earnings. Finally prepare a classified balance sheet (current vs long term) using the information above. Using balance sheet, answer the questions below What is the total amount reported as Current Assets as of 12/31/18? What is the total amount reported as Total Liabilities as of 12/31/18? What is the total amount report as Total Stockholders' Equity as of 12/31/18? Calculate the Debt to Equity ratio as of 12/31/18 and briefly discuss what this means. Calculate the Current Ratio as of 12/31/18 and briefly discuss what this means. 1. 2. 3. 4. 5