The following is the balance sheet of Korver Supply Company at December 31, 2020 (prior year). ok ht KORVER SUPPLY COMPANY Balance Sheet At December 31, 2020 Assets Cash Accounts receivable Inventory Furniture and fixtures (net) Total assets Liabilities and Shareholders' Equity Accounts payable (for merchandise) Notes payable Interest payable Common stock Retained earnings Total liabilities and shareholders? equity $155,000 310,000 260,000 175,000 $900,000 nces $260,000 270,000 10,800 100,000 259, 200 $900,000 Transactions during 2021 (current year) were as follows: 1. Sales to customers on account 2. Cash collected from customers 3. Purchase of merchandise on account 4. Cash payment to suppliers 5. Cost of merchandise sold 6. Cash paid for operating expenses 7. Cash paid for interest on notes 3920,000 900,000 610,000 620,000 560,000 280,000 21,600 Additional information 3 The notes payable are dated June 30, 2020, and are due on June 30, 2022 Interest is payable only on June 30 Depreciation on the furniture and fixtures for 202132.000 The furniture and futures originally cost $120.000 Required: Prepare a classified balance December 31, 2021 by updating ending balances from 2020 for action during 2021 the additional information. The cost of future and fidures and the accumulated depreciation are shown (Amets to be deducted should be indicated by a minus sign) ROVERSILY COMINY ch M2021 AN Current Total Benta Property, plantandement Noortplant and This 11 N>