please read and solve tge requirements listed.

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The unadjusted trial balance and income statement amounts from the Docember 31 asjanted trial balance of Walace Production Compary follow. (Click the icon lo view the adjusted Mal balance and income statement from the worksheet.) (Cick the icon to vew the adjusting entrios.) Read the requirements Requirement 1. Use the data in the partal worksheet to prepare Wallace Production Company's classiled balance sheet at December 31 of the currert year, Use the report format. Fint you must calculate the adjusted balance for several of the balance-sheet accounts Lotu prepare the balance sheet for Wallace Production Company. (if an input fold is not used in the bulance theet leave the feid empty, do not select a label or ender a zero) nce and income statement amounts from the December 31 adjusted trial balance of Wallace Producti w the adjusted trial balance and income statement from the worksheet.) Reference Requirements 1. Use the data in the partial worksheet to prepare Wallace Production Company's classified balance sheet at December 31 of the current year. Use the report format. First you must calculate the adjusted balance for several of the balance-sheet accounts. 2. Calculate Wallace Production Company's net working capital, current ratio, and debt ratio at December 31. A year ago, net working capital was $8,490, the current ratio was 2.12 , and the debt ratio was 0.25 . Indicate whether the company's ability to pay its debts - both current and total-improved or deteriorated during the current year. Wallace Production Company Unadjusted Trial Balance Adjustments Adjusted Trial Balance \begin{tabular}{|c|c|c|c|c|c|} \hline Debit & Credit & Debit & Credit & Debit & Credit \\ \hline 14,390 & & & & & \\ \hline 1,800 & & & & & \\ \hline 40,000 & & & & & \\ \hline \end{tabular} Equipment 3,400 Accumulated depreciation-equipment 3,900 Accounts payable 8,500 Unearned servicutrevenue 14,000 Notes payable, long-term 8,400 Common stock 10,990 Retained earnings Dividends 1,500 Service revenue 13,600 20,200 Salary expense 4,000 4,600 Rent expense 1,100 1,800 Print Done