These items are taken from the accounting records of Entity A at its December 31, 2024 year end. Accounts payable Accounts receivable Accumulated depreciation-building Advertising expense 250 Building 2,420 Cash 1,165 Common stock 16,900 Copyright 1,800 Depreciation expense Dividends 390 Income tax expense 165 Income tax payable Interest expense Inventory 967 Investment in land Land 3,100 Marketable securities (short-term) 1,200 Mortgage payable (due 2033) Note payable (due 2024) Prepaid advertising 60 Retained earnings (beginning) Salaries and wages expense Salaries and wages payable Service revenue 5,100 Supplies expense 700 670 335 61 3,500 61 1,600 1,060 222 Instructions In good form (include headings), prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2024. Look at Illus. 2.2 in the text for an excellent example of a classified balance sheet. Then compute the current ratio and the debt-tototal-assets ratios identifying which is a measure of liquidity and which is a measure of solvency