The following information is from the June 30, 2011, post-closing trial balance of Bissel Hardware Corporation.

REQUIRED

1. From the information provided, prepare a classified balance sheet for Bissel Hard-ware Corporation.

2. As a user of the classified balance sheet, why would you want to know the debt to equity ratio?

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Debit $ 64,000 66,000 20,000 552,000 290,000 3,200 9,600 2,560 Account Namc Credit Short-Term Investments Notes Receivable Accounts Receivable Merchandise Inventory Prepaid Rent Prepaid Insurance Sales Supplies Office Supplies Deposit for Future Advertising Building, Not in Use Land Delivery Equipment 880 7,360 99,200 46,800 82,400 ulated Depreciation-Delivery Equipment S 56,800 Trademark Accounts Payable Salaries Payable Interest Payable Long-Term Notes Payable Common Stock ($1.10 par value) Paid-In Capital in Excess of Par Value Retained Earnings 8,000 229,200 10,400 3,680 160,000 44,000 320,000 427,920 2