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The following accounts and related balances of ABC Company are as at December 3 1 , 2 0 2 0 prior to the closing journal

The following accounts and related balances of ABC Company are as at December 31,2020 prior to the closing journal entries. Accrued Liabilities$50,400Preferred Shares, $2.50, cumulative, 24,000 authorized and issued240,000Prepaid Expenses3,600Accounts Payable90,000Interest Expense29,000Trademark, net20,400Long-term Note Payable600,000Property, Plant, and Equipment, net3,360,000Retained Earnings623,600Accounts Receivable, net318,000Inventory420,000Common Shares, 300,000 shares authorized; 200,000 shares issued2,500,000Cash384,000Organization Costs18,000 Additional information: Total Assets, January 1,2020 $4,100,000Net income for 2020 $420,000No new shares were issued in 2020. Referring to Table above, prepare a classified balance sheet as at December 31,2020.

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