The following items are taken from the financial statements of SGB Company for 2013

Cash $300,000

Accounts Receivable 150,000

inventory70,000

accounts payable 13,000

supplies 20,000

salaries payable 10,000

unearned revenue25,000

intangible assets 98,000

property, plant and

equipment,net 176,000

common stock 50,000

addition paid-in

capital 150,000

retained earnings 78,300

long term debt 275,000

service revenue 483,700

cost of goods sold 170,000

rent expense 50,000

supplies expense 15,000

insurance expense 36,000

Instructions:

1. Create a classified balance sheet in good form for the year ended 2013

2. Calculate the current ratio and debt ratio and explain your findings.