Required:

(a) Part of the mortgage payable, in the amount of $6,450, is due on December 31, 2020. Prepare a classified balance sheet for Tree Toy Company as at March 31, 2020.

(b) When will Dollar Tree Inc (CIK: 935703; Nasdaq ticker: DLTR) publish an annual report of 53 weeks financial results? Why will the financial statements report 53 weeks instead of 52 weeks as intuitively we have a 52-week year. Identify this balance sheet date for Dollar Tree Inc (must be a date after Feb 1, 2020 and closest to Feb 1, 2020). Explain your answer in not more than 150 words.

The following accounts balance appeared in the adjusted trial balance of Tree Toy Company, a trading firm, at March 31, 2020. Dr Cr Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Buildings Cash Common Stock Cost of Goods Sold Depreciation Expense Dividends Equipment Gain on Disposal of Plant Assets Income Tax Expense Insurance Expense Interest Expense Interest Payable Inventory Land Mortgage Payable Prepaid Insurance Maintenance and Repairs Expense Retained Earnings Salaries and Wages Expense Sales Revenue Salaries and Wages Payable Sales Returns and Allowances Utilities Expense $ 83,620 $ 64,700 $ 18,000 $ 55,000 $ 180,000 $ 42,560 $ 300,000 $ 450,000 $ 29,000 $ 18,000 $ 100,000 $ 6,400 $ 10,000 $ 8,990 $ 9,700 $ 9,500 $ 62,700 $ 240,000 $ 129,000 $ 18,000 $ 4,930 $ 24,890 $ 99,000 $ 643,000 $ 86,400 $ 2,150 $ 16,080 $ 1,355,810 $1,355,810