The December 31, Year 1, adjusted trial balance for a company is presented below.

Accounts	Debit				Credit
Cash	$	11,700
Accounts Receivable		147,000
Prepaid Rent		5,700
Supplies		28,500
Equipment		370,000
Accumulated Depreciation					$	132,000
Accounts Payable						11,700
Salaries Payable						10,700
Interest Payable						4,700
Notes Payable (due in two years)						37,000
Common Stock						270,000
Retained Earnings						57,000
Service Revenue						470,000
Salaries Expense		370,000
Rent Expense		18,500
Depreciation Expense		37,000
Interest Expense		4,700
Totals	$	993,100			$	993,100

3. Prepare a classified balance sheet as of December 31, Year 1. (Amounts to be deducted should be indicated by a minus sign.)

3. Prepare a classified balance sheet as of December 31, Year 1. (Amounts to be deducted should be indicated by a minus Balance Sheet December 31, Year 1 Assets Liabilities Current assets: Cash Accounts Receivable Prepaid Rent $ $ Current liabilities: 11,700 Accounts Payable 147,000 Salaries Payable 5.700 Interest Payable Notes Payable 11,700 10,700 4,700 37,000 Total current assets 164.400 Total current liabilities 64.100 Total liabilities 64,100 Long-term assets: Equipment Accumulated Depreciation Stockholders' Equity 370.000 (132,000) Common Stock Retained Earnings ch 366.800 96,800 Total long-term assets Total assets $ 238,000 Total stockholders equity 402,400 Total liabilities and stockholders' equity 463,600 527,700