Required information [The following information applies to the questions displayed below.] Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 8,650 286,000 7,000 403,000 32,000 118,000 35,500 4,150 During the month of July, the company had the following activities: a. Issued 4,400 shares of common stock for $440,000 cash. b. Borrowed $35,000 cash from a local bank, payable in two years. c. Bought a building for $182,000; paid $56,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $207,000. e. Purchased supplies for $16,500 on account. 5. Prepare a classified balance sheet at July 31. ATHLETIC PERFORMANCE COMPANY Balance Sheet At July 31 Stockholders' Equity Current Liabilities Accounts Payable Assets Current Assets Total Current Liabilities 0 0 0 0 $ 0 $ 0