Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 5,200 227,000 14,700 334,000 39,000 90,500 38,250 6,250 During the month of July, the company had the following activities: a. Issued 2,800 shares of common stock for $280,000 cash. b. Borrowed $34,000 cash from a local bank, payable in two years. c. Bought a building for $212,000; paid $54,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $120,000. e. Purchased supplies for $18,700 on account. 5. Prepare a classified balance sheet at July 31. Include Retained Earnings on the balance sheet even though the account has a zero balance.