The adjusted balances at September 30, 2020, for Xentel Interactive are shown in alphabetical order below:

Required

Prepare a comparative classified balance sheet at September 30, 2020.

Analysis Component: How were Xentel?s assets mainly financed in 2019? in 2020? Has the change in how assets were financed from 2019 to 2020 strengthened the balance sheet? (To strengthen the balance sheet is to decrease the percentage of assets that are financed by debt as opposed to equity.)

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2020 2019 $ 4,320 $ 3,150 Accounts payable. Accounts receivable.. 1,800 4,320 540 Accumulated amortization, copyright. 1,080 Accumulated depreciation, building Accumulated depreciation, machinery. 54,000 50,400 90,000 82,800 225,000 Building. 225,000 Cash. Consulting revenue earned. 900 2,700 540,000 622,800 7,200 Copyright. 7,200 Land 68,400 68,400 Machinery. Mason Xentel, capital". 295,200 115,200 270,252 226,080 Mason Xentel, withdrawals.. 72,000 41,400 Notes payable, due October 2024 Operating expenses. Prepaid insurance 230,220 55,800 625,572 558,000 -0- 1,530 82,800 Unearned fees 5,580 *The owner, Mason Xentel, made no additional investments during the year ended September 30, 2020.