Prepare an income statment, retained earning statment, balance sheet and compute the current ratio and debt to ratio using the following information: (Note: I have completed some but I am confused on parts of it, which is the parts in red boxes)

Finance Information:

Income Statement:

Retained Earnings:

Balance Sheet:

Current Ratio and Debts to Asset Ratio

These financial statement items are for Vaughn Manufacturing at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $ 3,580 59,100 17,100 20,000 4,100 67,700 10,000 3,300 16,000 30,200 11,280 7,100 4,000 5,100 35,000