Required information On January 1, Year 1, the general ledger of a company includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $24,000 5,400 3,300 52,000 $ 3,400 67,000 14,300 $84,700 $84,700 During Year 1, the following transactions occur January 2 Purchase rental space for one year in advance, $6,680 ($550/month). January 9 Purchase additional supplies on account, $3,780. January 13 Provide services to customers on account, $25,700. January 17 Receive cash in advance from customers for services to be provided in the future, $3,900. January 20 Pay cash for salaries, $11,700. January 22 Receive cash on accounts receivable, $24,300. January 29 Pay cash on accounts payable, $4,200. 5. Prepare a classified balance sheet as of January 31, Year 1. Balance Sheet January 31, Year 1 Assets Liabilities Current assets: Current liabilities Total current liabilities Stockholder's Equity Total current assets Long-term assets: Total stockholders' equity Total liabilities and stockholders' equity Total assets