Prepare a Classified Balance Sheet for Georgia Learning Corporation as of December 31, 2020. Assume all accounts have their normal balance (debit or credit) and 25% of the Note Payable matures each year. Post-Close Trial Balance Account Balances at 12/31/20

Common Stock $750,000

Patent 275,000

Accumulated Depreciation Equipment 477,650

Building 1,990,776

Land Held for Speculation 156,000

Cash 185,000

Retained Earnings 1,287,538

Accounts Receivable 59,500

Accounts Payable 78,011

Prepaid Insurance 4,000

Accumulated Depreciation Building 980,000

Note Payable 1,000,000

Equipment 880,000

Unamortized Discount on Bond 50,000

Land 278,790

Interest Payable 31,117

Inventories 121,000

Treasury Stock 50,000

Goodwill 1,000,000

Supplies 2,000

Allowance for Doubtful Accounts 2,750

Wages Payable 10,000

Unearned Learning Fees Revenue 25,000

Bonds Payable 350,000

Additional Paid- In- Capital Common 50,000

Warranty Liability (current year) 10,000