Instructions: Please prepare a Balance Sheet on your scratch paper based on the following Adjusted Trial Balance and Additional Information below to answer this question and the next three (3) questions. (Hint: you may also want to prepare a new Income Statement and Statement of Stockholders' Equity before preparing the Balance Sheet to make sure you have the necessary information for the Balance Sheet account balances.)

You will need to know the amounts for total current assets, total long-term assets, total current liabilities, and total stockholders' equity.

Adjusted Trial Balance
As of 12/31/20xx
Accounts	Debit	Credit
Cash	$15,400
Supplies	5,701
Accounts Receivable	4,801
Equipment	120,700
Accumulated Depreciation		$6,000
Accounts Payable		12,100
Deferred Revenue		1,801
Notes Payable (due in 24 months		80,701
Common Stock		2,801
Retained Earnings		46,500
Dividends	4,801
Revenue		12,400
Rent Expense	900
Supplies Expense	3,000
Utility Expense	1,000
Depreciation Expense	6,000

Additional Information:

• Beginning Balance of Common Stock on 1/1/20xx $2,801
• Beginning Balance of Retained Earnings on 1/1/20xx $46,500
• No new stock was issued during the accounting period.
• Hint: Please remember the formula for retained earnings when preparing this statement.

Question: What is the amount shown for Total Current Assets shown on the Classified Balance Sheet you prepared on your scratch paper?

What is the amount shown for Total Long-term Assets shown on the Classified Balance Sheet you prepared on your scratch paper?

What is the amount shown for Total Current Liabilities shown on the Classified Balance Sheet you prepared on your scratch paper?

What is the amount shown for Total Stockholders' Equity shown on the Classified Balance Sheet you prepared on your scratch paper?