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I need helppp on making a classified balance sheet [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following
I need helppp on making a classified balance sheet
[The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,360 Accounts Receivable 3,300 Prepaid Insurance. 3,600 4,300 Notes Receivable (long-term) Equipment 18,500 Accumulated Depreciation Accounts Payable $ 5,200 6,720 Salaries and Wages Payable 1,650 Income Taxes Payable 4,200 Deferred Revenue 860 Common Stock 3,700 Retained Earnings 1,520 Dividends 430 Sales Revenue Rent Revenue 53,730 430 Salaries and Wages Expense 24,200 2,600 Depreciation Expense Utilities Expense Insurance Expense 5,520 2,700 Rent Expense 7,300 Income Tax Expense. 4,200 Total $ 78,010 $ 78,010 Required: 1. Prepare a classified balance sheet at December 31. 2. Are the Sky Blue Corporation's assets financed primarily by debt or equity Step by Step Solution
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