Marked out of 22.00 Flag question Freud Corporation has the following account balances at May 31, 2020. Using this information, prepare a classified balance sheet as at May 31, 2020 under ASPE. Account Title Balance Accounts Payable $41,700 Accounts Receivable $43,600 Accumulated Depreciation $6,200 Cash $20,800 Common Shares $42,500 Merchandise Inventory $61,000 Notes Payable $110,000 Preferred Shares $52,900 Prepaid Rent $17,800 Property, Plant and Equipment $245,700 Retained Earnings $132,400 Unearned Revenue $3,200 Notes: Unlimited common shares are authorized and 2,300 have been issued and are currently outstanding For preferred shares, 12,000 shares are authorized and 4,800 have been issued and are currently outstanding. Each share pays a cumulative dividend of $5 annually The notes payable is payable over 4 years and $27,500 will be paid by May 3 x Contact us! ote acer 510 Price Sysro Spst. Pause Breakiner Balance Sheet As at May 31, 2020 Assets Current Assets Cash 20800 43600 Accounts Receivable 17800 Prepaid Rent Merchandise Inventory 61000 Total Current Assets 143200 Property, Plant and Equipment (net) 245700 Total Assets Liabilities Current Liabilities Accounts Payable Unearned Revenue Notes Payable, Current Portion Total Current Liabilities Contact us! AO Prisme Sys Syst. Pause Breakintet Insert Property, Plant and Equipment (net) 245700 Total Assets Liabilities Current Liabilities Accounts Payable Unearned Revenue Notes Payable, Current Portion Total Current Liabilities Long-Term Liabilities Notes Payable, Long-Term Portion Total Liabilities Shareholders' Equity Contributed Capital Preferred Shares authorized issued Common Shares, unlimited authorized, issued Contact us! o Hi e = m 2 ater Portsmouth Spot Pause Breakintact Insert