B. Prepare a Classified Balance Sheet in report form based on the adjusted trial balance for the Video Productions Company on December 31, 2020. (40 points) Video Productions Adjusted Trial Balance December 31, 2020 Cash Accounts receivable Prepaid rent Debit $ 12,000 Credit 9,000 5,000 Prepaid insurance 2,500 Supplies 3,200 Land 30,000 Building 50,000 Accumulated depn.-building $ 10,000 Equipment 35,000 Accumulated depn.-equipment 7,000 Accounts payable 8,000 Salary payable 3,000 Interest payable 1,000 Mortgage payable 50,000 Jennifer Wood, capital 94,900 Jennifer Wood, withdrawals 20,000 Service revenue 90,000 Salary expense 38,000 Insurance expense 5,000 Rent expense 12,000 Utilities expense 15,000 Advertising expense 9,000 Depreciation expense-building 10,000 Depreciation expense-equipment 7,000 Supplies expense 1.200 Total $263.900 $263,900 Note: Details of the income and expenses accounts should not be shown in the Balances Sheet. Instead, prepare first the Income Statement and add/deduct the net income/loss to the Owner's capital in the Balance Sheet.