The adjusted trial balance of Chris O'Donovan Dance Studio Company follows. (Click the icon to view the adjusted trial balance) Read the requirements. Requirement 1. Prepare the classified balance sheet of Chris ODonovan Dance Studio Company at August 31, 2024. Use the report form. You must compute the ending balance of Retained Eamings. Begin by preparing the asset section of the balance sheet, then prepare the liabilities section and finally the stockholders' equity section. Chris O'Donovan Dance Studio Company Balance Sheet August 31, 2024 Assets Liabilities Stockholders' Equity Current Assets Current Liabilities Property, Plant, and Equipment: Long-Term Liabilities: Total Assets Total Current Assets Total Current Liabilities Total Liabilities Total Liabilities and Stockholders' Equity Total Property, Plant, and Equipment Total Stockholders' Equity Requirement 2. Compute O'Donovan's current ratio at August 31, 2024. One year ago, the current ratio was 1.79 Indicate whether O'Donovan's ability to pay current debts has improved, deteriorated, or remained the same. Select the labels then enter the amounts and compute the current ratio. (Round your answer to two decimal places.) 1l=Currentratio Since the current ratio was 1.79 one year ago, the company's ability to pay its current debts has