Problem 2-181 [LO 2-4) 1 Consider the following account balances of Evan McGruder, Inc., as of December 31, Year 3. 6.63 points Accounts Payable $111,120 Equipment 423,400 Common Stock 209,000 Income Tax Payable 4,080 Retained Earnings 56,500 Notes Payable, due Year 5 345,000 Accounts Receivable 204,300 Cash 98,000 00:59:17 Required: Prepare a classified balance sheet at December 31, Year 3. EVAN MCGRUDER, INC Balance Sheet At December 31, Year 3 Assets Liabilities Current Assets Cash Accounts Receivable $ Current Liabilities 98,000 Accounts Payable 204,300 Income Tax Payable $ 111,120 4,080 Total Current Liabilities 115,200 115.200 Total Current Liabilities 302,300 0 $ 302 300 S 115,200