Required information Skip to question [The following information applies to the questions displayed below.] Bearings & Brakes Corporation (B&B) was incorporated as a private company. The companys accounts included the following at June 30: Accounts Payable $88,000 Buildings 630,000 Cash 103,000 Common Stock 300,000 Equipment 174,000 Land 509,000 Notes Payable (long-term) 6,000 Retained Earnings 1,031,000 Supplies 9,000 During the month of July, the company had the following activities: Issued 4,200 shares of common stock for $420,000 cash. Borrowed $125,000 cash from a local bank, payable in four years. Bought a building for $192,000; paid $79,000 in cash and signed a three-year note for the balance. Paid cash for equipment that cost $103,000. Purchased supplies for $103,000 on account. Prepare a classified balance sheet at July 31.