[The following information applies to the questions displayed below.] Cougar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following:

Cash	$	27,000		Accounts payable	$	15,000
Investments (short-term)		2,200		Accrued liabilities payable		2,800
Accounts receivable		4,700		Notes payable (short-term)		5,200
Inventory		28,000		Notes payable (long-term)		42,000
Notes receivable (long-term)		2,800		Common stock		9,300
Equipment		42,000		Additional paid-in capital		83,700
Factory building		95,000		Retained earnings		48,200
Intangibles		4,500

During the current year, the company had the following summarized activities:

1. Purchased short-term investments for $7,500 cash.
2. Lent $5,500 to a supplier who signed a two-year note.
3. Purchased equipment that cost $24,000; paid $5,000 cash and signed a one-year note for the balance.
4. Hired a new president at the end of the year. The contract was for $80,000 per year plus options to purchase company stock at a set price based on company performance.
5. Issued an additional 1,200 shares of $0.50 par value common stock for $19,000 cash.
6. Borrowed $10,000 cash from a local bank, payable in three months.
7. Purchased a patent (an intangible asset) for $2,500 cash.
8. Built an addition to the factory for $26,000; paid $7,300 in cash and signed a three-year note for the balance.
9. Returned defective equipment to the manufacturer, receiving a cash refund of $4,000.

1) Prepare a trial balance at December 31 of the current year.:

2) Prepare a classified balance sheet at December 31 of the current year.

3) Compute the current ratio for the current year. (Round your answer to 2 decimal places.)

Please help! Thank you in advance!!

4. Prepare a trial balance at December 31 of the current year. Answer is not complete. COUGAR PLASTICS COMPANY Trial Balance At December 31 Account Titles Debit Credit Cash Investments (short-term) Accounts receivable 4,700 28,000 52,000 X 121,000 7,000 $ 15,000 Inventory Notes receivable (long-term) Equipment Factory building Intangibles Accounts payable Accrued liabilities payable Notes payable (short-term) Notes payable (long-term) Common stock Additional paid-in capital Retained earnings Totals 2,800 88,700 $ 212,700 $ 106,500 COUGAR PLASTICS COMPANY Balance Sheet Assets Liabilities Current assets: Cash Accounts receivable Inventory Investments 0 Total current assets 0 0 Factory building Equipment Intangibles Stockholders' Equity 0 0 0 $ 0 Current ratio