These financial statement items are for Lexulous Company at year-end, July 31, 2011.

Salaries payable $4,580 Note Payable(long-term) $3,300

Salaries expense 45,700 Cash 22,200

Utilities expense 19,100 Accounts Receivable 9,780

Equipment 22,000 Accumulated depreciation 6,000

Accounts payable 4,100 Dividends 4,000

Commission revenue 56,100 Depreciation expense 4,000

Rent revenue 6,500 Retained earnings (1/1/2011) 30,000

Common stock 16,200

Prepare a classified balance sheet for Lexulous Company at July 31, 20111. Calculate the working capital. Calculate the current ratio.