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Part 2 of 2 Required information Assume Down, Inc., was organized on May 1 to compete with Despair, Inc.-a company that sells de-motivational posters and office products. Down, Inc., encountered the following events during its first month of operations. 10 points a Received $36,000 cash from the investors who organized Down, Inc. b. Borrowed $15,000 cash and signed a note due in two years. c. Ordered equipment costing $18,000. d. Purchased $6,000 in equipment, paying $2,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (C), paid for half of it, and put the rest on account. eBook Hint 3. Prepare a classified balance sheet at May 31. Include Retained Earnings with a balance of zero. Print DOWN.INC Balance Sheet At May 31 References Assets Liabilities Current Liabilities Current Assets Cash [ $ 36,000 Total Current Assets 36,000 Total Current Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity 36,000 Total Liabilities and Stockholders' Equity Total Assets