Required information [The following information applies to the questions displayed below.) Bearings & Brakes Corporation (B&B) 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 $ 79,000 600,000 100,000 270,000 168,000 494,000 3,000 1,016,800 6,000 During the month of July, the company had the following activities: a. Issued 3.900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 on account 5. Prepare a classified balance sheet at July 31. Required information [The following information applies to the questions displayed below.) Bearings & Brakes Corporation (B&B) 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 $ 79,000 600,000 100,000 270,000 168,000 494,000 3,000 1,016,800 6,000 During the month of July, the company had the following activities: a. Issued 3.900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 on account 5. Prepare a classified balance sheet at July 31. - Prepare a classified balance sheet at July 31. BEARINGS & BRAKES CORPORATION Balance Sheet At July 31 Liabilities Stockholders' Equity Common Stock 0 0 0 0 0