See the Balance Sheet and Income Statement for Paul's Guitar Shop. Go to the PPT (slide 19) we covered in class and calculate: a) Any liquidity ratio b) Any profitability ratio Show your work! Paul's Guitar Shop, Inc. Balance Sheet December 31, 2015 Assets Current Assets Cash Accounts Receivable Prepaid Rent Inventory Total Current Assets Long-term Assets Leasehold Improvements Accumulated Depreciation Total Long-term Assets Total Assets: 32,800 300 1,000 39,800 73,900 100.000 12,000) 98,000 98,000 171,900 Liabilities Current Liabilities Accounts Payable Accrued Expenses Uneamed Revenue Total Current Liabilities Long-term Liabilities Total Liabilities 49,000 450 1,000 50,450 99,500 149,950 Owner's Equity Owner's Equity Retained Earnings Common Stock Total Owner's Equity Total Liabilities and Owner's Equity 11,950 10.000 21.950 171.900