Required information [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. 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 Debit $ 1,310 Credit 2,800 3,100 3,800 16,000 $ 4,200 6,220 1,400 3,700 760 3,200 1,320 380 49,230 380 Salaries and Wages Expense 23,200 Depreciation Expense 2,100 Utilities Expense 5,020 Insurance Expense 2,200 Rent Expense Income Tax Expense Total 6,800 3,700 $ 70,410 $ 70,410 Required: 1. Prepare a classified balance sheet at December 31. 2. Are the Sky Blue Corporation's assets financed primarily by debt or equity?