Lantana Company has provided you with the transactions that occurred during its first month of operations. The controller has already recorded the transactions to the T-Accounts and has asked you to prepare the classified balance sheet based on the T-Account balances.

a. Issued 7,500 shares of stock with a par value of $0.10 to three owners(2,500 each) for $75,000 in cash.

b. Purchased a short-term investment for $10,000 cash.

c. Purchased 2 acres of land for $20,000, paid $5,000 in cash, and signed a 2-year note for the remainder.

d. Bought $900 of supplies on account

e. Sold acres of land for $5,000. Accepted a note to receive payment in one year.

f. Purchased $10,000 of equipment in cash.

g. Paid $500 on account for supplies purchased in the transaction (d).

For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3 Note: Use cell references to the T-account titles to complete columns B and G. Use cell references to the T-account balances and formulas to