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1. The post-closing trial balance of Chester Company at December 31, 2016 is as follows: Cash Marketable securities Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Unearned revenue Notes payable - due in 6 months Bonds payable - due in 20 years Common stock Retained earnings Totals Required: Debit $ 20,000 32,000 48,000 80,000 140,000 s 200 000 $ 520 000 s Credit 88,000 72,000 8,000 40,000 80,000 1 oo,ooo 132 000 520 000 l) Use the trial balance of Chester Company to prepare the current assets and current liabilities sections of Chester's balance sheet at December 31, 2016. (worth 6 points) 2) Calculate the current ratio at December 31, 2016. Show all calculations and round the ratio to two decimal places. (worth 2 points)