The following are the transactions of Spotlighter, Incorporated, for the month of January. a. Borrowed $4,140 from a local bank on a note due in six months. b. Received $4,830 cash from investors and issued common stock to them. c. Purchased $1,200 in equipment, paying $300 cash and promising the rest on a note due in one year. d. Paid $400 cash for supplies. e. Bought and received $800 of supplies on account. Required: Prepare a classified balance sheet for Spotlighter, Incorporated, as of January 31. Current Assets Cash Supplies Equipment Assets SPOTLIGHTER INCORPORATED $ Balance Sheet At January 31 Current Liabilities 4,530 Notes Payable (short-term) 1,200 5,730 1,200 6,930 Common Stock Liabilities Prev Stockholders' Equity 1 of 11 Next > $ $ 5,040 5,040 4,830 9,870

The following are the transactions of Spotlighter, Incorporated, for the month of January. a. Borrowed $4,140 from a local bank on a note due in six months. b. Received $4,830 cash from investors and issued common stock to them. c. Purchased $1,200 in equipment, paying $300 cash and promising the rest on a note due in one year. d. Paid $400 cash for supplies. e. Bought and recelved $800 of supplies on account. Required: Prepare a classified balance sheet for Spotlighter, Incorporated, as of January 31