What are the answers?

1. The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2018, the end of its fiscal year: cash, $32,000; accounts receivable, $27.000, inventories, $41,000, equipment (net). $96.000, accounts payable, $30,000, wages payable, $13,000, interest payable, $9,000, note payable (due in 18 months). $46,000, common stock. $32,000 Calculate total current assets and total current liabilities that would appear in the company's year-end balance sheet Current assets Current liabilities 2 The following is a December 31, 2018, post-closing trial balance for Culver City Lighting, Inc. Credits Debits 62.000 46,000 52.000 22,000 100 000 41.000 Account Title Cash Accounts receivable Inventories Prepaid insurance Equipment Accumulated depreciation equipment Patent net Accounts payable Interest payable Note payable (due in 10. equal annual installments) Common stock Retained earnings Totals 47,000 15,500 5 500 130,000 77.000 60.000 329,000 320.00 329,000 Prepare a classified balance sheet for Culver City Lighting, Inc. (Amounts to be deducted should be indicated by a minus sign.) 3. The following is a December 31, 2018, post-closing trial balance for Culver City Lighting, Inc. Account Title Debits Credits Cash 5 56 000 Accounts receivable 40,000 Inventarios 48.000 Prepaid insurance 15.000 Equipment 110,000 Accumulated depreciation equipment $ 35,000 Patent, net 41.000 Accounts payable 12 500 Interest payable 2,500 Note payable (due in 10, equal annual installments) 110.000 Common stock 71.000 Retained earnings 70.000 Totals $300,000 $309,000 a. Calculate the current ratio. b. Calculate the acid-test ratio C. Calculate the debt to equity ratio Current Ratio Numerator Denominator unde Acid-Test Ratio Numerator Denominator Debt to Equity Ratio Numerator Denominator 4. The following is a December 31, 2018. post-closing trial balance for the Jackson Corporation Account Title Debits Credits Cal $ 60,000 Accounts receivable 54,000 Inventories 95,000 Prepaid rent for the next 8 months 36,000 Marketable securities (short term) 30,000 Machinery 245.000 Accumulated depreciation--machinery $ 31,000 Patent (net of amortization) 99.000 Accounts payable 18,000 Wages payable 14,000 Taxes payable 52,000 Bonds payable (due in 10 years) 270.000 Common stock 180,000 Retained earnings 54,000 Totals $619,000 $619,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)