I'm not too sure if it's correct... There's a lot of errors in this problem for sure.. Please help thanks!

M2-12 Reporting a Classified Balance Sheet (LO 2-4) The following are the transactions of Spotlighter, Inc., for the month of January. a. Borrowed $3,940 from a local bank on a note due in six months. b. Received $4,630 cash from investors and issued common stock to them. c. Purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year. d. Paid $300 cash for supplies. e. Bought and received $700 of supplies on account. Prepare a classified balance sheet for Spotlighter, Inc., as of January 31. $ SPOTLIGHTER INC. Balance Sheet At January 31 Liabilities Current Liabilities 8,570 Notes Payable (short-term) 1,000 Accounts Payable 1,000 10,570 Stockholders' Equity Common Stock Assets Cash Supplies Property, Plant, and Equipment $ 3,940 0 [ 3,940 4,630 | $ 10,570 $ 8,570