Superior Hordwood Company distributes hardwood products to small fum iture manufacturers. The adjusted thial balance data given below is trom the firm's worksheet for the year ended December 31, 20x1. Reguired: 1. Prepare o classifieg income statement for the year ended December 31. 20x1 The expense accounts fepresent warehicuse expenses, selking expenses, and general and administrative expenses 2. Prepare a statement of owner's equity for the year ended December 31,201. No additional investments were made during the year. 3. Prepare a classified belence sheet as of December 31, 201. The mortgage payoble extends for more than year. Analyze: What is the current ratio for this business? Required: 1. Prepare a classified income statement for the year ended December 31, 20X1. The expense occounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the year. 3. Prepare a classified balance sheet as of December 31,201. The mortgage payable extends for more than a year. Analyze: What is the current ravo for this business? Complete this question by entering your answers in the tabs below. Prepare a cassified income statement for the year ended December 31,201. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses, Required: 1. Prepare a classified income statement for the year ended December 31,20x1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 20x1. No additional investments were made during the year. 3. Prepare a classified balance sheet as of December 31,201. The mortgage payable extends for more than a year. Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Prepare a statement of owner's equity for the year ended December 31,201. No additional investments were made during the year. Prepare a classified balance sheet as of December 31,201. The mortgage payable extends for more than a year. Required: 1. Prepare a classified income statement for the year ended December 31,201. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31,201. No additional investments were made during year. 3. Prepare a classified balance sheet as of December 31, 20x1. The mortgage payable extends for more than a year. Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. What is the current ratio for this business? (Round your answer to 2 decimal places.)
