The adjusted trial balance for the year of Sneed Corporation at October 31,2021 , follows: (Click the icon to view the adjusted trial balance), Read the requarements Requirement 1. Prepare Sneed Corporation's 2021 single-step income statoment, statement of retained earnings, and balanco sheet Year E 1. Prepare Sneed Corpotation's 2021 single-step income statement statement of rotaried earnings, and balance shoot 2. Sneed's lenders require that the company maintain a dobt ratio no higher than 0.50 Calculate Sneed's debt ratio at Ociober 31, 2021, to determine whether the compony is in complance with thes debt restriction if not, suggest a way that Sneed could have avoided this difficult situation Data table Data table