Land Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30 Accounts Payable $82,000 Buildings 610,000 Cash 101,000 Common Stock 280,000 Equipment 170,000 499.000 Notes Payable (long-term) 4,000 Retained Earnings 1,021,000 Supplies 7,000 During the month of July, the company had the following activities 2. Issued 4,000 shares of common stock for $400.000 cash. b. Borrowed $115,000 cash from a local bank, payable in four years. c. Bought a building for $188,000, pald $77.000 in cash and signed a three-year note for the balance d. Pald cash for equipment that cost $101.000 e. Purchased supplies for S101,000 on account. 5. Prepare a classified balance sheet at July 31 BEARINGS & BRAKES CORPORATION Balance Sheet During the month of July, the company had the following activities: a. Issued 4,000 shares of common stock for $400,000 cash. b. Borrowed $115,000 cash from a local bank, payable in four years. c. Bought a building for $188.000. paid $77,000 in cash and signed a three-year note for the balance d. Pald cash for equipment that cost $101000 e Purchased supplies for $101.000 on account 5. Prepare a classified balance sheet at July 31. BEARINGS & BRAKES CORPORATION Balance Sheet At July 31 Assets Liabilities Current Liabilities Accounts Payable Current Assets Cash Supplies Total Assets 0