The information that follows is from Matt's Hardware Company's April 30, 2014, post-closing trial balance.

Required
1. Prepare a classified balance sheet for Matt's Hardware.
2. Compute Matt's Hardware's current ratio and debt to equity ratio.

Transcribed Image Text:

Account Name Cash 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 Accumulated Depreciation-Delivery Equipment Trademark Accounts Payable Salaries Payable Interest Payable Income Taxes Payable Long-Term Notes Payable Common Stock Retained Earnings Totals Debit 31,000 33,000 10,000 276,000 145,000 1,600 4,800 1,280 Credit 440 3,680 49,600 22,400 41,200 28,400 4,000 114,600 5,200 840 4,750 80,000 129,000 261,210 624,000 624,000