The following are the transactions of Spotlighter, Inc., for the month of January a. Borrowed $3.940 from a local bank on a note due in six months. b. Received $4.630 cash from investors and issued common stock to them. c. Purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year. d. Paid $300 cash for supplies. e Bought and received $700 of supplies on account. Prepare a classified balance sheet for Spotlighter, Inc., as of January 31, Answer is not complete. SPOTLIGHTER INC. Balance Sheet At January 31 Liabilities Current Liabilities 8,070 Accounts Payable 1,000 Bad Debt Expense Assets Current Assets Cash Supplies S $ 700 X (3,940) Prepare a classified balance sheet for Spotlighter, Inc., as of January 31. Answer is not complete. SPOTLIGHTER INC. Balance Sheet At January 31 Assets Liabilities DO Current Assets Cash Supplies 0 Current Liabilities Accounts Payable Bad Debt Expense $ 8,070 1,000 700 X (3,940) Total Current Assets 9,070 Total Current Liabilities (3,240) Property, Plant, and Equipment 1,000 Total Assets 10.070 $ (3.240)