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Part 3 of 5 Accounts Payable Buildings Cash Conmon Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 58,00 550, eee 95, eee 220, eee 158,000 469,000 10,000 991, eee 7,eee 10 points Print During the month of July, the company had the following activities: a. Issued 3,400 shares of common stock for $340,000 cash. b. Borrowed $85,000 cash from a local bank, payable in four years c Bought a building for $176,000, paid $71,000 in cash and signed a three-year note for the balance d. Paid cash for equipment that cost $95,000 e Purchased supplies for $95.000 on account. 5. Prepare a classified balance sheet at July 31 Assets Current Assets Cash Supplies Total Current Assets $ 153.000 BEARINGS & BRAKES CORPORATION Balance Sheet At July 31 Liabilities Current Liabilities S 354 000 Accounts Payable 102.000 456,000 Total Current Liabilities Notes Payable (long-term) 726,000 253,000 Total Liabilities 469,000 Stockholders' Equity Common Stock Retained Earnings 153,000 200.000 buildings Equipment mand 353,000 560,000 991 000 1,551,000 $ 1,904,000 Total Assets 5 1.904.000 Total Liabilities and Stockholders' Equity