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 $4,840 from a local bank on a note due in six months. b. Received $5,530 cash from investors and issued common stock to them. c. Purchased $1,900 in equipment, paying $650 cash and promising the rest on a note due in one year. d. Paid $750 cash for supplies. e. Bought and received $1,150 of supplies on account. Prepare a classified balance sheet for Spotlighter, Inc., as of January 31. SPOTLIGHTER INC. Balance Sheet At January 31