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Prepare a classified balance sheet for Tip Corporation dated December 31, 2020 using the below data. Accounts receivable 3,100 Insurance expense 1,125 Machinery 47,000 Inventory

Prepare a classified balance sheet for Tip Corporation dated December 31, 2020 using the below data.

Accounts receivable 3,100 Insurance expense 1,125

Machinery 47,000 Inventory 1,900

Cash 1,430 Retained earnings

Accounts payable 2,520 Note payable (4 year) 8,130

Common shares 40,700 Dividend 820

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