The adjusted trial balance shows the ending balances for the quarter as of April $30,2022$ for the

following accounts for Redbirds, Inc. All amounts reflect normal balances for the accounts.

Note: This is the same trial balance used in Problem $2-2.$

Accounts Payable $$10,600$

Accounts Receivable $11,100$

Accumulated Depreciation $24,000$

Advertising Expense $19,600$

Cash $46,500$

Common Stock $30,000$

Cost of Goods Sold $355,400$

Dividends $5,000$

Depreciation Expense $9,000$

Equipment $175,000$

Income Tax Expense $19,875$

Income Tax Payable $0$

Insurance Expense $4,500$

Interest Expense $3,600$

Interest Revenue $2,500$

Inventory $29,000$

Notes Payable $($due in $9$ mos.$)5,000$

Notes Payable $($due in $5$ yrs$.)10,000$

Prepaid Insurance $3,625$

Rent Expense $24,000$

Retained Earnings $($beg$.$ Bal.$)91,000$

Salaries Expense$-$Gen$/$Admin $20,000$

Salaries Expense$-$Selling $34,000$

Sales Revenues $605,100$

Utilities Expense $18,000$

Requirements:

$1.$ Prepare a classified balance sheet in good form.