The following balance sheet items, listed in alphabetical order, are available from the records of Singer Company at December 31, 2014: Required 1. Prepare a classified balance sheet as of December...

The following balance sheet items, listed in alphabetical order, are available from the records of Singer Company at December 31, 2014:

Required

1. Prepare a classified balance sheet as of December 31, 2014.

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?