RROBLEM 7 (Chanter 4) The following account balances are taken from the adjusted trial balance of Best of Fun Bowling Lanes on December 31, 2023. Version 1 8 Required: (a) Prepare closing entries on December 31, 2023. Use the general journal form below to answer this problem. (b) Prepare a classified balance sheet on December 31, 2023 Place your answer here: Version 1 \begin{tabular}{|c|c|c|l|l|} Total Liabilities and Equity & & & & \end{tabular} (c) Use the balance sheet you prepared above to calculate the current ratio. Comment on the company's liquidity position Place your answer here: RROBLEM 7 (Chanter 4) The following account balances are taken from the adjusted trial balance of Best of Fun Bowling Lanes on December 31, 2023. Version 1 8 Required: (a) Prepare closing entries on December 31, 2023. Use the general journal form below to answer this problem. (b) Prepare a classified balance sheet on December 31, 2023 Place your answer here: Version 1 \begin{tabular}{|c|c|c|l|l|} Total Liabilities and Equity & & & & \end{tabular} (c) Use the balance sheet you prepared above to calculate the current ratio. Comment on the company's liquidity position Place your answer here