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The adjusted trial balance for Cortez Company at December 31, 2024 is presented below: Accounts Debit Credit $ Cash 15,000 Accounts receivable 152,000 Prepaid

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The adjusted trial balance for Cortez Company at December 31, 2024 is presented below: Accounts Debit Credit $ Cash 15,000 Accounts receivable 152,000 Prepaid rent 6,000 Supplies 29,000 Equipment 330,000 Accumulated depreciation Accounts payable Salaries payable $ 126,000 19,000 3,100 Interest payable 1,400 Notes payable (due in 30,000 two years) Common stock 190,000 Retained earnings 38,800 Dividends 23,000 Service revenue 500,000 Salaries expense 185,000 Advertising expense 76,000 Rent expense 19,000 Depreciation expense 34,000 Interest expense 2,300 Utilities expense 37,000 $ $ Totals 908,300 908,300 Prepare a classified balance sheet for Cortez Company as of December 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Assets Current assets: CORTEZ COMPANY Balance Sheet As of December 31, 2024 Current liabilities: Liabilities and Stockholders' Equity Total current liabilities Long-term liabilities: $ 0 Total liabilities 0 Total current assets $ 0 Stockholders' Equity: Long-term assets: Total long-term assets 0 Total stockholders' equity 0 Total assets $ 0 Total liabilities and stockholders' equity $ 0

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