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Required: 1. Prepare a classified balance sheet at December 31. 2. Are the Sky Blue Corporation's assets financed primarily by debt or equity? Required: Prepare

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Required: 1. Prepare a classified balance sheet at December 31. 2. Are the Sky Blue Corporation's assets financed primarily by debt or equity? Required: Prepare closing journal entries on December 31. (If no entry is required for a transaction/event, select "No in the first account field.)

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