Using the following accounts, prepare a classified balance sheet at year end, May 31, 20xx: Accounts Payable, $400; Accounts Receivable, $550; Accumulated Depreciation, Equipment, $350; Cash, $100; Common Stock, $500; Equipment, $2,000; Franchise,

$100; Investments (long-term), $250; Merchandise Inventory, $300; Notes Payable

(long-term), $200; Retained Earnings, ?; Wages Payable, $50. SE-4