Case: SquareFit - Student Squarefit owned by Chandler Bing, is an freestyle clothing retailer. You were hired to account the transactions and report the status of the business. They use the perpetual inventory system and use the weigted average method to determine value for the inventory. Its balance sheet as at January 31, 2021, is presented below. SquareFit Classified Balance Sheet As at January 31 , 2021 Assets Cash $35,600 Accounts Receivable 18,190 Merchandise Inventory 46,720 Prepaid Insurance 4,400 Total Current Assets 104,910 Long-Term Assets Equipment 162,000 Accumulated Depreciation -52,000 110,000 Total Assets $214,910 Liabilities Current Liabilities Accounts Payable $14,800 Unearned Revenue $8.800