These items are taken from the accounting records of Entity A at its December 31, 2023 year end. Accounts payable Accounts receivable Accumulated depreciation-equipment Depreciation expense Cash Common stock Dividends Equipment Sales revenue Income tax expense Income taxes payable Interest expense Interest payable Land held for speculation Notes payable (due in 2028) Patent Prepaid rent Rent expense Retained earnings, beginning Salaries and wages expense $7,100 9,150 6,600 2,200 11,955 15,000 2,800 27,150 21,450 1,600 300 350 175 5,100 5,700 2,000 380 760 13,960 6,840 Instructions In good form (include headings), prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2023. Then compute the current ratio and the debt-to-total-assets ratios identifying which is a measure of liquidity and which is a measure of solvency. Don't forget this last part. Check figures: Retained earnings, December 31, 2023 $20,860; Total assets, $49,135