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 O'Donovan Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of Retained Earnings. Begin by preparing the asset section of the balance sheet, then prepare the liabilities section and finally the stockholders' equity section. - X i Data Table Chris O'Donovan Dance Studio Company Balance Sheet August 31, 2018 Assets 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 Chris O'Donovan Dance Studio Company Trial Balance August 31, 2018 Balance Account Title Debit Credit Cash $ 13,600 Office Supplies 2,200 Prepaid Rent 1,600 Equipment 52,000 Accumulated Depreciation Equipment 7,000 Accounts Payable 4,400 Salaries Payable 900 Unearned Revenue 4,800 Notes Payable (long-term) 5,200 Common Stock 17,000 Retained Earnings 19,900 Dividends 800 Service Revenue 17,900 Salaries Expense 4,000 Rent Expense 1,000 Depreciation Expense-Equipment 600 Supplies Expense 400 Utilities Expense 900 77,100 $ 77,100 Total Accounts Payable Accumulated Depreciation Equipment Cash Common Stock Depreciation Expense Dividends Equipment Notes Payable (long-term) Office Supplies Prepaid Rent Rent Expense Retained Earnings Salaries Expense Salaries Payable Service Revenue Supplies Expense Unearned Revenue Utilities Expense Print Done i Requirements Choose from any list or enter any number in the input fields and then click Check AL 1. Prepare the classified balance sheet of Chris O'Donovan Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of Retained Earnings. 2. Compute O'Donovan's current ratio at August 31, 2018. One year ago, the current ratio was 1.29. Indicate whether O'Donovan's ability to pay current debts has improved, deteriorated, or remained the same. 4 parts 4 remaining