Assets Cash $160,000 320,000 270, eee 180,eee Accounts receivable Inventories Furniture and fixtures, net Total assets $930,ee0 Liabilities and Shareholders' Equity Accounts payable (for merchandise) Note payable Interest payable $270,e00 280,000 7,000 110,000 Common stock Retained earnings Total liabilities and shareholders equity 263,000 $930,000 es Transactions during 2018 were as follows Sales to customers on account Cash collected from customers Purchase of merchandise on account Cash payment to suppliers Cost of merchandise sold 6. Cash paid for operating expenses 7. Cash paid for interest on note 1. $930,000 910,000 620,000 630,000 570,000 2. 3. 4. 5. 290,000 14,000 The note payable is dated June 30, 2017 and is due on June 30, 2019. Interest at 5 % is payable annually on June 30 Depreciation on the furniture and fixtures for the year is $33,000. The furniture and fixtures originally cost $430,000 Required: Prepare a classified balance sheet at December 31, 2018 (ignore income taxes). (Amounts to be deducted should be indicated by a