Following are the December 31, 2003, account balances for Siraco Company. CaSiinwmsritens eect tee ce arene $ 1,950 Accounts receivable ........ Oars tere 2,500 SUDDIES ate et cs AER eee ocr ee 1,800 EQUIDIMIeNtM ca eee a eae ee 11/275 INGO IMES (OE WEISS). 2S ccs wo) MASUR He Gee 3,450 Wagés"payables * popper retro enis 250 = Dividendsipald’s., . s.tweok nets a Noe 1,500 Capitalistocka te. . 9 gears ont sos clas 7715 Retained earnings, January 1, 2003..... 12,000 REVENUES Hr ALL Jae, 308 StS ane: 10,000 Miscellaneous expense.............. 1,550 Fceneral Letioer Software Suppliesiexpensenwa ieee eee ees 3,700 : WiaQESKEXIDENSE: esas aca) oeenees oes poeta 2,200 Required: 1. Prepare a classified balance sheet as of December 31, 2003. 2. Interpretive Question: On the basis of its 2003 earnings, was this company’s decision to pay dividends of $1,500 a sound one?