The following information was obtained from the records of Uptown, Inc., as of December 31, 2000. Land Buildings. Salaries expense Utilities expense $ 37,500 145,050 40,050 9,750 25,650 Accounts payable. Revenues. Supplies Retained earnings (1/1/00) Capital stock (1,000 shares outstanding). Accounts receivable.. Supplies expense.... Cash - Notes payable (long-term) Rent expense. 397,800 69,450 272,550 45,000 46,500 207,900 ? 25,800 25,650 60,750 13,050 52,800 Dividends in 2000 Other expenses.. Income taxes. 1. Prepare an income statement for the year ended December 31, 2000. 2. Prepare a classified balance sheet as of December 31, 2000. 3. Compute the current ratio as of December 31, 2000. 4. Compute the debt ratio as of December 31, 2000. 5. Interpretive Question: What does the current ratio tell about Uptown's liquid- ity? 6. Interpretive Question: What does the debt ratio tell about Uptown's leverage? 7. Interpretive Question: Why is the balance in Retained Earnings so large as compared with the balance in Capital Stock?