Exercise 3-9 (Static) Balance sheet preparation [LO3-2, 3-3] The following is the bolance sheet of Korver Supply Company at December 31, 2023 (prior yean) Transactions during 2024 (current year) were as follows Additional information: The notes payable are dated June 30, 2023, and are due on June 30, 2025. Interest at 6% is payable anmually on June 30 . Depreciation on the furniture and fixtures for 2024 is $20,000. The furniture and fixtures onginally cost $300,000 Required: Prepare a classified balance sheet at December 31, 2024, by updating ending balances from 2023 for transactions during 2024 and the additional information. The cost of fumiture and fuxtures and their accumulated depreciation are shown separately. Note: Amounts to be deducted should be indicated by a minus sign. KORVER SUPPLY COMPANY Balance Sheet At December 2024 Assets Current assets: Total current assets Property, plant, and equipment: \begin{tabular}{|c|c|c|} \hline Net property, plant, and equipment & & \\ \hline Total assets Liabilities and Shareholders' Equity & & \\ \hline Total current liabilities & & \\ \hline Shareholders' equity: & & \\ \hline & & \\ \hline Total shareholders' equity & & \\ \hline Total liabilities and shareholders' equity & & \\ \hline \end{tabular} Exercise 3-9 (Static) Balance sheet preparation [LO3-2, 3-3] The following is the balance shleet of Korver Supply Company at December 31, 2023 (prior year) Transactions during 2024 (current yeas) wore as follows Additional toformation The notes payoble are dated June 30, 2023, and are due on June 30,2025 . interest of 6% is poyable annually on fune 30 Depreciation on the furniture and fotures for 2024 is $20,000. The furniture and fixtures originatly cost $300,000 Required: Required: Prepaie a ciassified bollance sheet at December 31, 2024, by updating ending balances from 2023 for transactions dumng 2024 and the odditional information. The cost of furniture and fuctures and their occumulated depreciation are ahown separately Note: Amounts to be deducted should be indicated by a minus sign