4. Use the following Adjusted Trial Balance and Statement of Retained Earnings to prepare the CLASSIFIED BALANCE SHEET in good form for Weasley Inc. for December 31, 2016. (30 points)

Account Title						Balance
						Debit		Credit
Cash						$ 76,000
Accounts Receivable						19,000
Merchandise Inventory						157,000
Office Supplies						2,000
Equipment						750,000
Accumulated DepreciationEquipment								$ 50,000
Accounts Payable								44,000
Salaries Payable								12,000
Note Payable (Long Term)								208,000
Common Stock - $1 Par Value								200,000
Paid in Capital in Excess of Par - Common								100,000
Retained earnings								80,000
Sales Revenue								642,000
COGS						228,000
Salaries Expense						85,000
Depreciation ExpenseEquipment						10,000
Advertising Expense						7,600
Supplies Expense						1,400
Total						$ 1,336,000		$ 1,336,000

Retained Earnings, January 1, 2016 80,000

Net Income for the Year 310,000

Retained Earnings, December 31, 2016 $ 390,000