Prepare the April 30, 2022, classified balance sheet. (List Current Assets in order of liquidity.) SHERIDAN COMPANY Balance Sheet Assets I $ Liabilities and Stockholders' Equity $ $ $ Sheridan Company, a ski tuning and repair shop, opened on November 1, 2021. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season April 30, 2022 Cash Receipts $21.500 Cash Payments Issuance of common shares $9.050 1.295 Payment to purchase repair shop equipment Rent payments to landlord Newspaper advertising payment Utility bill payments 335 945 2.450 Part-time helper's wage payments 11.700 Income tax payment Cash receipts from ski and Snowboard repair services 31.000 52,500 25.775 Subtotals 26,725 Cash balance $52.500 $52,500 Totals The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The part-time helper is owed $355 at April 30, 2022, for unpaid wages. At April 30, 2022 customers owe Sheridan Company $490 for services they have received but have not yet paid for SHERIDAN COMPANY Income Statement For the Six Months Ended April 30, 2022 Revenues Service Revenue 31490 Expenses Rent Expense 1295 Utilities Expense 945 Advertising Expense 335 i Salaries and Wages Expense 2805 i Depreciation Expense 905 Income Tax Expense 11700 Total Expenses 17985 Net Income /(Loss) 13505