The following items are taken from the adjusted trial balance of Sutch Video Productions at December 31, 2017:

Accounts Payable....................................................................................$ 15,000

Accounts Receivable...............................................................................11,000

Accumulated DepreciationVideo Equipment......................................28,000

AdvertisingExpense...............................................................................21,000

Cash........................................................................................................24,000

Depreciation Expense..............................................................................12,000

J. Sutch, capital........................................................................................102,000

J. Sutch, drawings....................................................................................15,000

Insurance Expense...................................................................................3,000

Note Payable (due 2019).........................................................................70,000

Prepaid Insurance....................................................................................6,000

Rent Expense...........................................................................................17,000

Salaries Expense......................................................................................34,000

Salaries Payable.......................................................................................3,000

ServiceRevenue......................................................................................145,000

Supplies...................................................................................................4,000

Supplies Expense.....................................................................................6,000

Video Equipment.....................................................................................210,000

a.Calculate the Profit.

b. Calculate the balance of Owner's Equity that would appear on a balance sheet at December 31, 2017.

c. Prepare a classified balance sheet for Sutch Video Productions at December 31, 2017.

d. Calculate the working capital and the current ratio. Which of the two measures is preferable for comparing Sutchs liquidity with competitors?