Required information (The following information applies to the questions displayed below) On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Credit Debit $ 26,700 49.400 $ 5,800 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (69, due April 1, 2022) Common Stock Retained Earnings Totals 21,600 62,880 23,000 3, 1100 0,100 66,000 51,000 26,700 $182,788 $182,700 During January 2021, the following transactions occur January 2 Sold gift cards totaling $11,200. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $163,000. January 15 Firework sales for the first half of the month total $151,000. All of these sales are on account. The cost of the units sold is $81,800. January 23 Receive $127,000 from customers on accounts receivable. January 25 Pay $106,000 to inventory Suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,400. January 30 Firework sales for the second half of the month total $159,000. Sales include $13,000 for cash and $146,000 on account. The cost of the units sold is $87,500. January 31 Pay cash for monthly salaries, $53,680. 5. Prepare a classified balance sheet as of January 31, 2021. (Enter the Asset Accounts in order of liquidity. Amounts to be deducted should be indicated with a minus sign.) ACME FIREWORKS Classified Balance Sheet 5. Prepare a classified balance sheet as of January 31, 2021. (Enter the Asset Accounts in order of liquidity. Amounts to be deducted should be indicated with a minus sign.) ACME FIREWORKS Classified Balance Sheet January 31, 2021 Assets Liabilities Cash Accounts Receivable Less: Allowance for Uncollectible Accounts Inventory Accounts Payable Interest Payable O Income Tax Payable Deferred Revenue Total Current Assets 0 Total Current Liabilities Notes Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Land Equipment Accumulated Depreciation Total Stockholders' Equity Total Liabilities and Stockholder Equity Total Assets $ $ ACME FIREWORKS Classified Balance Sheet January 31, 2021 Liabilities Accounts Payable Interest Payable 0 Income Tax Payable Deferred Revenue 0 0 0 Total Current Liabilities Notes Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 0 0