Required information Business Sim Corp. (BSC) issued 1,500 common shares to Kelly in exchange for $22,000. BSC borrowed $43,000 from the bank, promising to repay it in two years. BSC paid $48,000 for computer equipment with check number 101 and signed a note for $7,000 due in six months. BSC received $1,100 of supplies purchased on account. BSC's loan contains a clause ("covenant') that requires BSC to maintain a ratio of current assets to current liabilities of at least 21 Assuming BSC entered into no other activities during its first year ended September 30, prepare the company's classified balance sheet. Include a balance of zero in Retained Earnings BUSINESS SIM CORP Balance Sheet At September 30 Assets Liabilities Current Assets Current Labtes Notes Payable (short-term) $ Cash 17.000 $ 7000 At September 30 Assets Liabilities Current Assets Cash $ Current Liabilities 17,000 Notes Payable (short-term) 1,100 Accounts Payable 7.000 Supplies 1.100 8,100 18,100 55,000 Equipment 8.100 Notes Payable (long-term) Total Assets