The following statement of financial position accounts and amounts were for Classic Ltd. on October 31:

a. Prepare a classified comparative statement of financial position for Classic Ltd. as at October 31, 2016. b. Calculate the amount of Classics working capital (current assets minus current liabilities) at the end of its fiscal years 2016 and 2015. Has the companys working capital position improved or deteriorated during this period? c. Calculate Classics current ratios at the end of its fiscal years 2016 and 2015. Has its current ratio improved or deteriorated during this period? d. Calculate Classics quick ratios at the end of its fiscal years 2016 and 2015. Has the companys quick ratio improved or deteriorated during this period? e. Based on the results from parts b, c, and d, do you think Classics overall liquidity position improved or deteriorated during this period? f. How might Classic evaluate whether its overall liquidity is adequate?

Equipment Bank loan payable (long-term) Prepaid expenses Accumulated depreciation, equipment Income taxes payable Inventory Wages payable Accounts receivable Unearned revenue Retained earnings Common shares Cash Accounts payable 2016 $350,000 322,000 2,800 123,200 19,600 315,000 36,400 64,400 67,200 84,000 70,000 67,200 77,000 2015 $343,000 336,000 4,200 117.600 16,800 322,000 33,600 51,800 56,000 72,800 70,000 50,400 68,600