The following items are taken from the financial statements of SRW Company for 2012
June 7th, 2024
(TCO D) The following items are taken from the financial statements of SRW Company for 2012:Cash$375,000Accounts Receivable125,000Prepaid Insurance100,000Accounts Payable88,000Unearned Service Revenue15,000Equipment, net of accumulated depreciation177,000Common Stock125,000Retained Earnings 12/31/2011106,000Long-term debt336,500Service revenue225,000Cost of Goods Sold62,500Rent expense30,000Supplies expense8,000Insurance expense18,000Instructions (a) Please create a classified Balance Sheet in good form for the year ended 2012. (25 points)(b) Please calculate the current ratio. (5 points)