The following are the transactions of Spotlighter, Incorporated, 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. Required: Prepare a classified balance sheet for Spotlighter, Incorporated, as of January 31. SPOTLIGHTER INCORPORATED Balance Sheet Assets Current Assets At January 31 Liabilities Current Liabilities 8,070 Accounts Payable 1,000 Notes Payable (short-term) Cash $ $ 700 Supplies Total Current Assets 700 9,070 Total Current Liabilities Stockholders' Equity 1,000 Common Stock Equipment 4,630 Total Assets $ 10,070 $ 5,330