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Q1. Prepare a classified balance sheet for Right Corporation dated December 31, 20 20 using the below data . 50 marks Common shares 1 6

Q1. Prepare a classified balance sheet for RightCorporation dated December 31, 2020 using the below data. 50 marks

Common shares16,800Salaries payable 1,700

Cash1,650Retained earnings8,250

Accounts receivable4,700Rent expense1,600

Equipment25,100Inventory1,900

Accounts payable2,800Note payable (2 year)3,800

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