1. Prepare a classified balance sheet for Microsoft Corporation as of December 31, 2023.
2. Calculate the Total Liabilities.
3. Determine the Shareholders' Equity.

Item	Amount ($)
Cash	2,000,000
Accounts Receivable	1,200,000
Inventory	800,000
Property, Plant, and Equipment	5,000,000
Accounts Payable	1,000,000
Notes Payable	500,000
Long-term Debt	3,000,000
Common Stock	2,500,000
Retained Earnings	2,000,000

Question:

Using the given data, prepare the classified balance sheet for Microsoft Corporation as of December 31, 2023. Calculate the Total Liabilities and determine the Shareholders' Equity.