The accounting records of Brownfield Foods, Inc., include the following items at December 31, 2018: (Click the icon to view the accounting records.) Read the requirements. Mortgage note payable, Total assets $ 5,300,000 current portion 92,000 Accumulated depreciation Leases payable (ong-term). 460,000 equipment 167,000 Blonds payable, long-term, 350,000 Discount on bonds payable Mortgage note payable (along) 22.000 long-term 314,000 Operating income.. 340.000 Bonds payable, current portion Interest expense.. 100,000 Equipment. 743.000 226,000 Long-term investments (market value) 430.000 Interest payable 78.000 Requirement 1. Show how each relevant item would be reported on the Brownfield Foods classified balance sheet. Include headings and totals for current sabilities and long-term liabilities. Select the labels and then enter the amounts to complete the classified balance sheet. You will need to determine the total current assets value from the information provided and your calculations (Abbreviations used: lab - abilities, NP-notes payable, and pay-payable) Less: Assets Brow PUOUS, HIG Partial Balance Sheet December 31, 2018 Liabilities Less Requirement 2. Answer the following questions about Brownfield Food's financial position at December 31, 2018: a. What is the carrying amount of the bonds payable (combine the current and long-term accounts)?$ b. Why is the interest payable amount so much less than the amount of interest expense? Interest payable is the Interest expense is the Requirement 3. How many times did Brownfield Foods cover its interest expense during 2018? (Round your answer to two decimal places.) Brownfield covered its interest expense times. Requirement 4. Assume that all of the existing liabilities are included in the information provided. Calculate the leverage ratio and debt ratio of the company. Use year-end figures in place of averages where needed for the purpose of calculating ratios in this problem. Evaluate the health of the company from a leverage point of view. Assume the company only has common stock issued and outstanding. What other information would be helpful in making your evaluation? Begin by computing the leverage ratio. Select the formula for the leverage ratio. Then complete the formula and calculate the leverage ratio. (Round your answer to two decimal places.) Leverage ratio Now, select the formula for the debt ratio. Then complete the formula and calculate the debt ratio. (Round your answer to two decimal places.) Debt ratio Evaluate the health of the company from a leverage point of view. What other information would be helpful in making your evaluation? (Round the ratio to two decimal places.) The company's debt ratio and leverage ratios are Smes. and operating income covers interest payments by With this limited information, the company appears to be risk from a leverage point of view. would also be helpful