Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Debits Credits counts $12,500 6,500 2,500 17,500 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings 6,000 8,500 17,500 7,000 $39,000 $39,000 Totals The following is a summary of the transactions for the year: 1. March 2. ay 3. June 4. August 5. September 25 Pay repairs and maintenance expenses, $11,500. 6. ctober 7. December 12 Provide services to customers, $45,000, of which $19,500 is on account. 2 Collect on accounts receivable, $16,500. 30 Issue shares of common stock in exchange for $5,000 cash. 1 Pay salaries of $8,500 from 2020 (prior year). 19 Purchase equipment for $6,500 cash. 30 Pay $1,000 cash dividends to stockholders. 8-b. Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) RED STORM CLEANERS Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Stockholders' Equity Total Current Assets Long-term assets: Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets