The followong is an adjusted, pre-closing trial balance for Jacksons Bikes, Inc., at December 31, 2013. No dividends were paid during the year. Prepare a classified balance sheet as of that date.

Account Debit Credit Accounts payable 10,000 Accounts receivable 11,000 Accumulated depreciation 12,000 Advertising expense 13,000 Allowance for doubtful accounts 500 Bad debt expense 4,000 Cash 14,000 Common stock 50,000 Cost of goods sold 100,000 Depreciation expense 15,000 Equipment 36,000 Interest expense 1,500 2.000 Interest revenue Inventory 18,000 119,000 Land Note payable (due in three months) 2,500 21,000 Note payable (due in three years) 6,000 Prepaid rent 7.000 Rent expense 64.500 Retained earnings 28,000 Salaries expense 100 Sales 210,000 Totals 372,500 372.500