These Financial Statement items are for Rugen Company at year-end July 31 2016

Salaries and wages payable. $2,980 Notes payable (long term) $3,000

Salaries and wages expense. 45,700 Cash 5,200

Utilities expense 21,100 Account receivable 9,780

Service revenue 38,000 Accumulated depreciation. 6,000

Rent revenue 6,500 Owners drawing 4,000

Depreciation expense 4,000

Owners capital (beginning of the year) 48,000

Equipment 38,000

Prepare a classified balance sheet at July 31