Warehouse Kages zxpense Karehouse Supplies Rxpense Depreciation Expense-Warehouse Zquipnent Salaries Expense-Salef Travel and Entertainent rxpense Delivery Wagen Expenne Depreciation Expenso-Delivery Rquipment Salaries Expense-office office Supplies Ixpense Inmurance Jxpense Utilities gxpense Telephone Expense Payroll Taxes expense Property Taxes Expense Uncollectible Accounta rxpense Depreciation Expense-Duilding Depreciation Fxpense-Office Equipthent Interest Expense Totals 199,600 7,100 5,800 269,200 21,500 60,330 9,600 70,600 4,000 6,200 9,290 6.520 59,000 5,600 5,800 9,000 4,000 8,200 $2,649,420$2,649,420 Required: 1. Prepare a classified income statement for the year ended December 31,20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 20x1. No additional investments were made during the year: 3. Prepare a classified balance sheet os of December 31, 20X1. The mortgage payable extends for more than a year. Analyze: What is the current ratio for this business? Prepare a statement of owner's equity for the year ended December 31,201. No additional investments were made during the year. SUPERIOR HARDWOOD COMPANY Statement of Owner's Equity Superior Hardwood Company distributes hardwood products to small furniture manufacturers. The adjusted trial balance data given below is from the firm's worksheet for the year ended December 31, 201. Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than a year. Required: 1. Prepare a classified income statement for the year ended December 31,201. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31,201. No additional investments were made during the year: 3. Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than a year. Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. What is the current ratio for this business? (Round your answer to 2 decimal places.) Current ratio to 1