Che Required information Assume Down, Inc., was organized on May 1 to compete with Despair, Inc.-a company that sells de motivational posters and office products. Down, Inc., encountered the following events during its first month of operations. a. Received $41,000 cash from the investors who organized Down, Inc. b. Borrowed $20,000 cash and signed a note due in two years. c. Ordered equipment costing $23,000. d. Purchased $11,000 in equipment, paying $3,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (c. paid for half of it, and put the rest on account. 3. Prepare a classified balance sheet at May 31. Include Retained Earnings with a balance of zero. DOWN.INC Balance Sheet At May 31 hp Required information DOWN.INC Balance Shoot At May 31 0 0 0 0 $ 0 hp) W e