Requirement 1. Prepare the classified balance sheet of Sally O'Sullivan Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of Retained Earnings. Begin by preparing the asset section of the balance sheet, then prepare the liabilities section and finally the stockholders' equity section. Sally O'Sullivan Dance Studio Company Balance Sheet August 31, 2018 Requirements Assets 1. Prepare the classified balance sheet of Sally O'Sullivan Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of Retained Earnings. 2. Compute O'Sullivan's current ratio at August 31, 2018. One year ago, the current ratio was 1.93. Indicate whether O'Sullivan's ability to pay current debts has improved, deteriorated, or remained the same. Print Done Less: Liabilities Liabilities Stockholders' Equity Requirement 2. Compute O'Sullivan's current ratio at August 31, 2018. One year ago, the current ratio was 1.93. Indicate whether O'Sullivan's ability to pay current debts has improved, deteriorated, or remained the same. Select the labels then enter the amounts and compute the current ratio. (Round your answer to two decimal places.) Current ratio Requirement 1. Prepare the classified balance sheet of Sally O'Sullivan Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of Retained Earnings. Begin by preparing the asset section of the balance sheet, then prepare the liabilities section and finally the stockholders' equity section. Sally O'Sullivan Dance Studio Company Balance Sheet August 31, 2018 Requirements Assets 1. Prepare the classified balance sheet of Sally O'Sullivan Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of Retained Earnings. 2. Compute O'Sullivan's current ratio at August 31, 2018. One year ago, the current ratio was 1.93. Indicate whether O'Sullivan's ability to pay current debts has improved, deteriorated, or remained the same. Print Done Less: Liabilities Liabilities Stockholders' Equity Requirement 2. Compute O'Sullivan's current ratio at August 31, 2018. One year ago, the current ratio was 1.93. Indicate whether O'Sullivan's ability to pay current debts has improved, deteriorated, or remained the same. Select the labels then enter the amounts and compute the current ratio. (Round your answer to two decimal places.) Current ratio