Jerrison Company operates a wholesale hardware business. Thefollowing balance sheet accounts and balances are available forJerrison at December 31, 2019.

Accounts payable		$ 65,100		Equipment, data processing	$309,000
Accountsreceivable		95,500		Income taxes payable	150,000
Accumulateddepreciation				Interest payable	12,600
	(on building)	216,800		Inventory	187,900
Accumulateddepreciation				Investments (long-term)	32,700
	(on data processing equipment)	172,400		Investments (short-term)	10,400
Accumulateddepreciation		31,200		Land	41,000
	(on trucks)			Notes payable (due June 1,2020)	21,600
Bonds payable (due Aug.30, 2023)		200,000		Prepaid insurance (for 4months)	5,700
Building(warehouse)		419,900		Retained earnings, 12/31/2019	?
Cash		18,000		Salaries payable	14,400
Common stock		150,000		Trucks	106,100

Required:

1. Prepare a classified balance sheet forJerrison at December 31, 2019.

2.Compute Jerrison's working capital andcurrent ratio at December 31, 2019. Round the current ratio answerto two decimal places.

Working Capital	$
Current Ratio

Jerrison Company
Balance Sheet
December 31, 2019
Assets
Current assets:
Cash	$
Investments (short-term)
Accounts receivable
Prepaid insurance
Inventory
Total current assets		$
Long-term investments:
Investment
Property, plant, and equipment:
Land		$
Building	$
Less: Accumulated depreciation
Trucks	$
Less: Accumulated depreciation
Equipment (data processing)	$
Less: Accumulated depreciation
Total property, plant and equipment
Total assets		$
Liabilities
Current liabilities:
Accounts payable	$
Notes payable
Salaries payable
Interest payable
Income taxes payable
Total current liabilities		$
Long-term liabilities:
Bonds payable
Total liabilities		$
Stockholders' Equity
Common stock	$
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity		$

Working Capital	$
Current Ratio