PART B-Question 3 (20 marks) Use the following to answer questions 1 and 2 below: Below is the year-end adjusted trial balance of the ledger of Big Bright Lights Electric. Big Bright Lights Electric Cash Accounts receivable Prepaid rent Prepaid insurance Adjusted Trial Balance Dec 31, 20XX $100,000 7,000 15,000 9.000 Office supplies 3.300 Office equipment Accumulated amortization, equipment 8,000 $3,200 Building 350,000 Accumulated amortization, building 42,000 Land 700,000 Accounts payable 5,800 Salaries payable 14,500 Interest payable 2,500 Long-term note payable 52,000 Margarita Acosta, capital 1,010,000 Margarita Acosta, withdrawals 200,500 Service fees earned 370,800 Salaries expense 90,000 Insurance expense 5.200 Rent expense 5,000 Amortization expense, equipment 800 Amortization expense, building 7,000 Totals $1,500,800 $1,500,800 1. Prepare a classified year-end balance sheet. A $7,000 installment on the long-term note payable is due within one year. 2. Using the information from Big Bright Light Electric, calculate the current ratio.