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: During the month of July, the company had the following activities: a. Issued 2,200 shares of common stock for $220,000 cash. b. Borrowed $40,250 cash from a local bank, payable in two years: c. Bought a building for $187,000; paid $52,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $182,000. e. Purchased supplies for $15,500 on account. Prepare a classified balance sheet at July 31. Include Retained Earnings on the balance sheet even though the account has a zero balance. 5. Prepare a classified balance sheet at July 31 . Include Retained Earnings on the balance sheet even though the account has a zero balance