Business Sim Corporation (BSC) entered into the following four transactions: (a) Issued 1,500 common shares to Kelly in exchange for $23,000. (b) Borrowed $44,000 from the bank, promising to repay it in two years. (c) Bought computer equipment by signing check number 101 in the amount of $49,000 and signing a promissory note for $7,000 due in six months. This loan contains a clause (covenant) that requires Business Sim Corporation (BSC) to maintain a ratio of current assets to current

3.Assuming BSC entered into no other activities during its first year ended September 30, prepare the companys classified balance sheet. Include a balance of zero in Retained Earnings.