Required information The following information applies to the questions displayed below.) The Sky Blue Corporation has the following adjusted trial balance at December 31 Credit Debit $ 1,280 2,500 2,800 3,500 14,580 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 Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total $ 3,600 5,920 1,250 3,480 700 2,900 1,200 350 46,538 350 22,689 1,800 4,720 1,980 6,500 3,480 $ 65,850 65,850 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 Required Prepare a classified balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) SKY BLUE CORPORATION Balance Sheet Print Required Requires 1 Prepare a classified balance sheet at December 31. (Amounts to be deducted should be Indicated by a minus sign.) SKY BLUE CORPORATION Balance Sheet Reference $ 0 0 0 0 0 $ Required Required 2 > 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 Required 1 2 Are the Sky Blue Corporation's assets financed primarily by debt or equity? Equity Debt