? X SSB HOME INSERT Preparing a classified balance sheet - Excel FORMULAS DATA REVIEW - Sign In PAGE LAYOUT VIEW Paste B I U. . Clipboard Font - A - Alignment Number Conditional Format as Cell Cells Formatting Table Styles - Styles fic The following transactions occurred for Lantana Company during its first month A1 X H The following transactions occurred for Lantana Company during its first month of operations and have been recorded in the T-accounts below. 4 a. Received $50,000 cash from owners in exchange for common stock. 5 b. Purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder. 6 c. Bought $900 of supplies on account. 7 d. Purchased $10,000 of equipment, paying cash. 8 e. Paid $500 on account for supplies purchased in transaction (C). Cash 50,000 c Supplies 900 5,000 10,000 500 b d. e. 34500 9001 Land 20,000 Equipment 10,000 0 20.000 10.000 0 Note Payable Accounts Payable 5001 900 C 15,000 b. 400 bal. 15.000 bal. Common Stock 50,000 a. 50,000 bal. Sheet1 ... + 31 Required: 32 Using the T-account BALANCES and the information in the transactions, 33 prepare a classified balance sheet for Lantana Company. 34 Note: Use cell references to the T-account titles to complete columns B and G. Use cell references to the 35 T-account balances and formulas to complete columns C and H. List long-term assets in alphabetical order. LANTANA COMPANY Balance Sheet At December 31, 2016 Liabilities and Stockholders' Equity Current Liabilities Assets 41 Current Assets 44 Total Current Assets Total Current Liabilities 46 Long-term Assets Long-term Liabilities 49 Total Long-term Assets Total Long-term Liabilities Total Liabilities Stockholders' Equity Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 57 Total Assets