Problem 4-7A

Problem 4-7A The accounts of Bolton Travel at December 31, 2017, are listed below in alphabetical order: $ 4,300 Interest Receivabl.e..1,600 Accounts Payabele.$15,300 Interest Payat bil... Accounts Receivable.. Accumulated Pr sh ca 19,800 Land....62,500 To Amortization-Building113,400 Notes Payable, Accumulated Amortization- Long-term ....91,400 6,600 Long-term 12,500 3,900 Other Assets .9,300 313,200 Other Current Liabilities....14,100 25,000 Prepaid Insurance.3,300 280,500 Prepaid Ren. 12,700 E. Bolton, Capital!.209,400 Salary Expens.. 73,800 E. Bolton, Withdrawals.143,800 Salary Payable.6,700 68,100 Supplies..8,500 2,400 Supplies Expense....17,100 Advertising Expense Amortization Expense. Building... Commission Revenue.. Furniture.. Insurance Expense. Unearned Commission Revenue 14,200 Require 1. Prepare the company's classified balance sheet in report format at December 31, 2017. Il adjustments have been journalized and posted, but the closing entries have not yet been made. 2. Compute Bolton Travel's current ratio and debt ratio at December 31, 2017. At December 31, 2016, the current ratio was 1.52 and the debt ratio was 0.37. Did Bolton Travel's ability to pay both current and total debts improve or deteriorate during 2017? Prep