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Part II A company reported the following information on its unadjusted trial balance at December 31, Year 1: Accounts Payable $ 2,500 Accounts Receivable 9,350

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Part II A company reported the following information on its unadjusted trial balance at December 31, Year 1: Accounts Payable $ 2,500 Accounts Receivable 9,350 Cash 23,490 Common Stock 92,000 Equipment 49,500 Inventory 31,200 Notes Payable due December 31, Year 3 2,500 Retained Earnings, December 31, Year 1 14,090 Wages Payable 2,450 Use the information above to answer the following questions. 1. What is the amount of current assets on the classified balance sheet? 2. What is the amount of the total assets on the classified balance sheet? 3. What is the amount of current liabilities on the classified balance sheet? 4. What is the amount of total liabilities on the classified balance sheet? 5. What is the total Stockholder's Equity on the classified balance sheet? 6. What is the total of the credit balance accounts? 7. What is the total of the debit balance accounts

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