Preparing a Classified Balance Sheet The following financial data for Kravis Distributors was collected as of December 31. All accounts have normal balances. Accounts Payable $80,000 Accounts Receivable $120,200 Delivery Equipment 90,000 Accumulated Depreciation 55,000 Inventory 114,000 Cash 15,200 Retained Earnings 7 Common Stock 130,000 Supplies 6,400 Prepaid Insurance 4,000 Required Prepare a classified balance sheet as of December 31, for Kravis Distributors. Note: Do not use negative signs with your answers. KRAVIS DISTRIBUTORS Balance Sheet December 31 Assets Current Assets: Accounts Receivable OOOOO Prepaid Insurance Supplies Total Current Assets Noncurrent Assets 0 0 0 0 Less: Accumulated Depreciation Total Noncurrent Assets Total Assets Liabilities & StockholdersEquity Current Liabilities $ 0 Stockholders Equity 0 0 0 Total Stockholders Equity