Current Attempt in Progress

Crane Company, a ski tuning and repair shop, opened on November $1,2024.$ The company carefully kept track of all its cash receipts

and cash payments. The following information is availlable at the end of the ski season, April $30,2025.$

The repair shop equipment was purchased on November $1$ and has an estimated useful life of $5$ years. Lease payments to the landlord

are made at the beginning of each month. The part$-$time helper is owed $$350$ at April $30,2025,$ for unpaid wages. At April $30,2025.$

customers owe Crane Company $$350$ for services they have received but have not yet paid for.

$($b$)$

Prepare the April $30,2025,$ classified balance sheet. $($List Current Assets in order of liquidity.$)$

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Liabilities and Stockholders' Equity