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Tywin's General Store is located in the Skye Shopping Mall. At the end of the company's fiscal year on December 31,2018 , the following accounts

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Tywin's General Store is located in the Skye Shopping Mall. At the end of the company's fiscal year on December 31,2018 , the following accounts appeared in its adjusted trial balance. Additional information: A count of supplies on hand revealed that the company had $750 on hand. The prepaid insurance is for a 2 year policy purchased on January 1s1,2018. No adjustments had been previously made to prepaid insurance. Utilities outstanding and unpaid as at December 31st, total $2,250. $30,000 of the mortgage payable is due for payment next year. Required: a) Prepare a multiple-step income statement for the year ended December 31,2018. (10 marks) b) Prepare a retained earnings statement for the year ended December 31,2018 , (5 marks) c) Prepare a classified balance sheet as at December 31, 2018. (10 marks) d) Tywin's closest competitor has a current ratio of 1.5:1. Caiculate Tywin's current ratio and working capital and briefly comment on the firm's liquidity as compared to the competitor

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