The following balance sheet items, listed in alphabetical order, are available from the records of Singer Company at December 31, 2012:

Required
1. Prepare a classified balance sheet as of December 31, 2012.
2. Compute Singer's current ratio.
3. On the basis of your answer to (2), does Singer appear to be liquid? What other information do you need to fully answer that question?

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Accounts payable Accounts receivable Accumulated depreciation 34,280 Interest payable 26,700 Land 0,000 Merchandise inventory 2,500 Office supplies Marketable securities Notes payable, due April 15, 2013 Paid-in capital in excess of $ 2,200 250,000 15,000 112,900 6,500 buildings Accumulated depreciation- equipment Bonds payable, due December 31 2018 Buildings Capital stock, $1 parvalue Cash Equipment Income taxes payable 250,000 pvalue 150,000 Patents 200,000 Prepaid rent 75,000 45,000 3,600 113,510 7,400 60,790 Retained earnings 84,500 Salaies payable 7,500