Required information [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Debit $ 1,290 Credit 2,600 2,900 3,600 15,000 $ 3,800 6,020 1,300 3,500 720 3,000 1,240 360 47,430 360 Salaries and Wages Expense 22,800 Depreciation Expense 1,900 Utilities Expense 4,820 Insurance Expense 2,000 Rent Expense Income Tax Expense Total 6,600 3,500 $ 67,370 $ 67,370 Required: 1. Prepare a classified balance sheet at December 31. 2. Are the Sky Blue Corporation's assets financed primarily by debt or equity? Required: 1. Prepare a classified balance sheet at December 31. 2. Are the Sky Blue Corporation's assets financed primarily by debt or equity? Required 1 Required 2 Prepare a classified balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) SKY BLUE CORPORATION Balance Sheet Required information i 10 Retained Earnings Dividends Sales Revenue 1,240 Rent Revenue 360 47,430 360 Salaries and Wages Expense 22,800 Depreciation Expense 1,900 Utilities Expense 4,820 Insurance Expense 2,000 Rent Expense Income Tax Expense Total 6,600 3,500 $ 67,370 $ 67,370 Required: 1. Prepare a classified balance sheet at December 31. 2. Are the Sky Blue Corporation's assets financed primarily by debt or equity? Required 1 Required 2 Are the Sky Blue Corporation's assets financed primarily by debt or equity? Equity Debt < Required 1 Required 2 >