M2-11 Preparing a Simple Classified Balance Sheet LO2-5 Following are the transactions of Dennen, Inc., for the month of January. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $30,000 from a local bank. b. Lent $10,000 to an affiliate; accepted a note due in one year c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share; received cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared and paid $2,000 in dividends to stockholders. Cash Notes Receivable Equipment Notes Payable bal, 900 bal, 1,000 bal. 15,100 bal. 3,000 Common Stock Additional Paid-in Capital Retained Earnin Prepare a balance sheet for Dennen, Inc., as of January 31 DENNEN, INC Balance Sheet Assets Liabilities Current assets Current liabilities Total current assets 0 Total current liabilities Total stockholders' equity Total assets 0 Total liabilities & stockholders' equity