Prepare an Income Statement and a Classified Balance Sheet
Listed below are items taken from the income statement and balance sheet for the year ended December 31, 20XX. The items are in alphabetical order. Prepare an income statement and CLASSIFED balance sheet (current assets, investments, PPE, etc) as of December 31, 20XX
Accounts Payable	922,200
Accounts Receivable	723,300
Cash	141,300
Common Stock	454,900
Cost of Goods sold	9,501,200
Debt Investments, short-term	382,600
Equipment	921,000
Accumulated Depreciation--Equipment	36,000
Goodwill	202,700
Income Tax Expense	5,475
Income Tax Payable	7,200
Interest Expense	1,500
Inventory	1,636,500
Mortgage Payable	451,500
Notes Payable, due in 6 months	784,600
Notes Payable, due in 3 years	50,500
Retained Earnings, as of January 1 of current year	1,285,375
Salaries & Wages Expense	2,933,600
Sales Revenue	12,456,900