These financial statement items are for Novak Corporation for the year end, July 31, 2018.

These financial statement items are for Novak Corporation for the year end, July 31, 2018. Salaries payable Salaries expense Utilities expense Equipment Accounts payable Service revenue Rent revenue Bank loan payable Common shares, August 1, 2017 Cash Accounts receivable Accumulated depreciation equipment Dividends declared Depreciation expense Interest expense Interest payable Income tax expense Retained earnings, August 1, 2017 $5,755 51,670 22,710 32,690 4,145 76,850 7.750 2,246 16,160 28,160 22,840 5,190 4,440 3,920 100 100 1,500 34,994 Novak issued $14,840 of common shares during the year. If Prepare an income statement for the year ended July 31, 2018 NOVAK CORPORATION Income Statement $ $ $ : Prepare a classified statement of financial position at July 31, 2018. NOVAK CORPORATION Statement of Financial Position Assets $ Liabilities and Shareholders' Equity MacBook Air -/30 Prepare a classified statement of financial position at July 31, 2018. NOVAK CORPORATION Statement of Financial Position Assets $ . $ $ Liabilities and Shareholders' Equity $ = Liabilities and Shareholders' Equity $ $ e Textbook and Media List of Accounts + $ eTextbook and Media List of Accounts Calculate the current ratio and debt to total assets ratio. (Round answers to 1 decimal place, e.g. 25.5.) Current ratio :1 Debt to total assets ratio % eTextbook and Media List of Accounts