Question 1 (12 Marks) Given the following account information for the first year of Howard Corporation. All accounts have normal balances. Equipment Interest Expense Interest Payable Retained Earnings Dividends Land. Accounts Receivable Bonds Payable. Notes Payable (due in 6 months). Common Shares Accumulated Depreciation-Equip Prepaid Advertising Service Revenue. Buildings Supplies. Income Taxes Payable Utilities Expense Advertising Expense Salaries and Wages Expense Salaries and Wages Payable Accumulated Depreciation. --Buildings Cash Depreciation Expense. 60,000 2,400 600 ? 50,400 137,320 102,000 78,000 29,400 70.000 10,000 5,000 341,400 80,400 1,860 3,000 1,320 1,560 53,040 900 15,000 45,000 8,000 Required: Prepare a classified Statement of Financial Position for the company as of December 31, 2020