Using the adjusted trial balance for Urban Furniture Ltd for the year ending February 28, 2020 prepare the Classified Statement of Financial Position. (10)

Account	Debit	Credit
Cash	$5,000
Accounts receivable	14,000
Supplies	10,000
Inventory	15,000
Land	110,000
Accounts payable		$3,000
Salary payable		5,000
Notes payable Long term		30,000
Common Shares		70,000
Retained earnings		20,000
Dividends	1,000
Sales revenues		180,000
Cost of goods sold	100,000
Selling expense	3,000
Advertising expense	2,000
Salary expense	5,000
Utility expense	23,000
Rent expense	18,000
Interest expense	2,000
Totals	$298,000	$298,000

(Hint: Calculate the net income/loss & retained earnings first)