Accounts Payable 46,340

Accounts receivable 37,100

Accumulated depreciation equipment 23,850

Administrative Expenses 57,080

Cash 20,670

Common Stock 10,000

Cost of Goods Sold 166,470

Dividends 48,000

Equipment 26,500

Income tax Expense 15,675

Interest payable 600

Inventory 50,125

Notes payable, short term 5,000

Notes payable, Long-term 30,000

Paid-in Capital Common 15,000

Retained Earnings (Dec 31) 8,255

Salary Payable 3,700

Sales 329,300

Supplies 2,350

Treasury Stock ($30 cost per share) (6,000)

A teammate has prepared the income statement and the statement of stockholders equity. There are 10,000 shares authorized, $10 par value.

Required:

Prepare the Classified Balance Sheet for the year ended December 31, 2019.