A) prepare a classified balance sheet based on the adjusted trial balance shown below

B) prepare the required closing entries

Adjusted Trial Balance December 31 Debit Credit $18,200.00 34200 Cash Accounts receivable Long-term investments Shipping equipment.. Accumulated depreciation-Shipping 25000 45000 $11,080.00 16000 16200 4120 20000 10000 30400 Accounts payable... Wages payable Long-term notes payable. Common stock Retained earnings 15000 145000 Shipping fees earned Rent expense Wages expense Supplies expense... Depreciation expense-Shipping equig Interest expense. 8000 62000 2500 4050 1000 0 $2,000 of the long-term note payable is due during the next year Totals $236,800. $236,800.00