Question 3 Presented below is the adjusted trial balance of Flounder Corporation at December 31, 2017. Debit Credit Cash Supplies 1,390 Prepaid Insurance 1,190 Equipment 48,190 $ 4,190 Accumulated Depreciation-Equipment Trademarks 1,140 Accounts Payable 10,190 Salaries and Wages Payable 690 2,190 Unearned Service Revenue Bonds Payable (due 2024) 9,190 10,190 Common Stock Retained Earnings 25,190 Service Revenue 10,190 Salaries and Wages Expense 9,190 Insurance Expense 1,590 Rent Expense 1,390 Interest Expense 1,090 ? $ 7 Total Additional information: 1. Net loss for the year was $3,070 2. No dividends were declared during 2017. Prepare a classified balance sheet as of December 31, 2017. (List Current Assets in order of liquidity.) FLOUNDER CORPORATION Balance Sheet December 31, 2017 Assets Current Assets Cash Supplies Prepaid Insurance Total Current Assets Equipment Less Accumulated Depreciation- Equipment Intangible Assets Trademarks Total Assets Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Salaries and Wages Payable Unearned Service Revenue Total Current Liabilities Long-term Liabilities Bonds Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity