SPROTT SCHOOL OF BUSINESS BUSI-1003 Survey of Accounting Assignment 1 Your assignment submission must be typed up in either Word or Excel and uploaded (one file only) to the assignment drop-box in cul.cam before midnight Monday January 25. QUESTION 1 At December 31 2020 (the end of its second year of operations), Happy Corporation had the following balances in its accounts: Accounts Payable Accounts Receivable Accumulated Depreciation - Building Building Building expenses Cash Common Shares Cost of Goods Sold Depreciation Expense Income tax payable Income tax expense Interest Expense Interest Payable Inventory Mortgage Receivable Mortgage Payable Pre-paid expenses Rent Expense Retained Earnings Sales 35 45 12 43 38 410 200 800 16 45 80 10 6 15 44 190 16 09 See below 1.000 Other information: . During the year $50 of dividends were paid to the shareholders Retained Earnings at the Beginning of the period were $256 REQUIRED: Prepare the following financial statements: Classified Balance Sheet Income Statement Statement of Retained Earnings