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Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3: Accounts Payable $115,720 Equipment 422,400 Common Stock 204,000 Income Tax

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Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3: Accounts Payable $115,720 Equipment 422,400 Common Stock 204,000 Income Tax Payable 3,980 Retained Earnings 55,500 Notes Payable, due Year 5 344,000 Accounts Receivable 293,300 Cash 97,500 Required: Prepare a classified balance sheet at December 31, Year 3. EVAN MCGRUDER, INC. Balance Sheet EVAN MCGRUDER, INC. Balance Sheet

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