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 $31.$ Include a zero balance for Retained Earnings

SPOTLIGHTER INCORPORATED

Balance Sheet