Required Information The following information applies to the questions displayed below) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts Included the following at June 30 Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 20,900 109,000 38,500 195,000 142,000 214,000 4,350 293,850 10,600 During the month of July, the company had the following activities a. Issued 4,900 shares of common stock for $490,000 cash b. Borrowed $117.000 cash from a local bank, payable in two years. c Bought a buliding for $267.250; paid $93,250 in cash and signed a three-year note for the balance a. Paid cash for equipment that cost $275,000 e Purchased supplies for $53,250 on account 5. Prepare a classified balance sheet at July 31. DELIBERATE SPEED CORPORATION Balance Sheet For the Month Ended July 31 Liabilities Current Assets Current Liabilities Accounts Payable Current Assets 74,150 Cash Supplies 74,150 Total Assets 277,250 63,850 341,100 Total Liabilities Notes Payable (long-term) 341,100 Assets 0 $ 74,150 341,100