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Sarasota Corp's balance sheet at December 31,2024 , is presented as follow. During 2025, the following transactions occurred. 1. On January 1, Sarasota issued 2,400 shares of $40 par, 7% preferred stock for $98,400. 2. On January 1 , Sarasota also issued 1,800 shares of the $10 par value common stock for $42,000. 3. Sarasota performed services for $640,000 on account. 4. On April 1,2025, Sarasota collected fees of $72,000 in advance for services to be performed from April 1.2025, to March 31, 2026. 5. Sarasota collected $552,000 from customers on account. 6. Sarasota bought $70,200 of supplies on account. 7. Sarasota paid $64,400 on accounts payable. 8. Sarasota reacquired 800 shares of its common stock on June 1 for $28 per share. 9. Paid other operating expenses of $376,400. 10. On December 31,2025 , Sarasota declared the annual cash dividend on preferred stock and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2026. 11. An account receivable of $3,400 which originated in 2024 is written off as uncollectible. Adjustment data: 1. A count of supplies indicates that $11,800 of supplies remain unused at year-end. 2. Recorded revenue from item 4 above. 3. The allowance for doubtful accounts should have a balance of $7,000 at year end. 4. Depreciation is recorded on the building on a straight-line basis based on a 30 -year life and a salvage value of $20,000. 5. The income tax rate is 30%. (Hint: Prepare the income statement up to income before taxes and multiply by 30% to compute the amount) Prepare a classified balance sheet as of December 31, 2025. (List Current Assets in order of liquidity, List Property, Plant, and