0 Required information Exercise 7-4 (Algo) Bank overdrafts (LO7-2, 7-10] [The following information applies to the questions displayed below.) Parker Inc. has the following cash balances: First Bank: $210,000 Second Bank: (22,000) Third Bank: 31,000 Fourth Bank: (11,000) Exercise 7-4 (Algo) Part-1 Required: 1. Prepare the current assets and current liabilities section of Parker's 2021 balance sheet, assuming Parker reports under U.S. GAAP (If there is no effect select "None" from the dropdown.) Parker's 2021 Balance Sheet (Partial) Current Assets Cash Current Liabilities: Bank overdrafts