M4 16 Reporting a Balance Sheet LO 4 4 The Sky Blue Corporation has the following adjusted trial balance at December 31 Debit Credit Cash $ 1,290 Accounts Receivable 2,600 Prepaid Insurance 2,900 Notes Receivable (long term) 3,600 Equipment 15,000 Accumulated Depreciation $ 3,800 Accounts Payable 6,020 Salaries and Wages Payable 1,300 Income Taxes Payable 3,500 Unearned Revenue 720 Common Stock 3,000 Retained Earnings 1,240 Dividends 360 Sales Revenue 47,430 Rent Revenue 360 Salaries and Wages Expense 22,800 Depreciation Expense 1,900 Utilities Expense 4,820 Insurance Expense 2,000 Rent Expense 6,600 Income Tax Expense 3,500 Total $ 67,370 $ 67,370 1 Prepare a classified balance sheet at December 31 (Amounts to be deducted should be indicated by a minus sign )

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M4 16 Reporting a Balance Sheet  LO 4 4  The Sky Blue Corporation has the following adjusted trial balance at December 31  Debit Credit Cash $ 1,290 Accounts Receivable 2,600 Prepaid Insurance 2,900 Notes Receivable (long term) 3,600 Equipment 15,000 Accumulated Depreciation $ 3,800 Accounts Payable 6,020 Salaries and Wages Payable 1,300 Income Taxes Payable 3,500 Unearned Revenue 720 Common Stock 3,000 Retained Earnings 1,240 Dividends 360 Sales Revenue 47,430 Rent Revenue 360 Salaries and Wages Expense 22,800 Depreciation Expense 1,900 Utilities Expense 4,820 Insurance Expense 2,000 Rent Expense 6,600 Income Tax Expense 3,500 Total $ 67,370 $ 67,370 1  Prepare a classified balance sheet at December 31  (Amounts to be deducted should be indicated by a minus sign )

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M4-16 Reporting a Balance Sheet [LO 4-4] The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,290

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	Debit		Credit
Cash	$	1,290
Accounts Receivable		2,600
Prepaid Insurance		2,900
Notes Receivable (long-term)		3,600
Equipment		15,000
Accumulated Depreciation			$	3,800
Accounts Payable				6,020
Salaries and Wages Payable				1,300
Income Taxes Payable				3,500
Unearned Revenue				720
Common Stock				3,000
Retained Earnings				1,240
Dividends		360
Sales Revenue				47,430
Rent Revenue				360
Salaries and Wages Expense		22,800
Depreciation Expense		1,900
Utilities Expense		4,820
Insurance Expense		2,000
Rent Expense		6,600
Income Tax Expense		3,500

Total	$	67,370	$	67,370

1.	Prepare a classified balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.)