The aim of this information. It must be completed for submission on Wednesday 25 October 2017. No credit given for work submitted late. 5 marks will be allocated for successful completion of this assignment J Sharp invested 56 000 cash in the business during year 2011 (the December 31 2010, credit balance of Required: Prepare the income statement for the calendar-year 2011. Prepare the statement of owner's equity for the calendar-year 2011. Prepare the classified balance sheet at December 31, 2011.(Be sure to list the assets and liabilities in order of their liquidity). 1- 2- 3- 4 Prepare the necessary closing entries at December 31, 2011. 5- Use the information in the financial statements to compute the following ratios: a) Current ratic b) Debt to equity ratio, and c) Times interest earned ratio