College
Instructions: Please prepare a Balance Sheet on your scratch paper based on the following Adjusted Trial Balance and Additional Information below to answer this question and the next three (3) questions. (Hint: you may also want to prepare a new Income Statement and Statement of Stockholders' Equity before preparing the Balance Sheet to make sure you have the necessary information for the Balance Sheet account balances.) You will need to know the amounts for total current assets, total long-term assets, total current liabilities, total long-term liabilities, and total stockholders' equity. Adjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $25,486 Prepaid Rent 5,700Supplies 4,400 Building 100,000Accumulated Depreciation $6,000Accounts Payable 1800 Deferred Revenue 1,300 Notes Payable (due in 24 months 80,486 Common Stock 2,100 Retained Earnings 46,400 Dividends 4,000 Service Revenue 12,400 Rent Expense 900 Supplies Expense 3,000 Utility Expense 1,000 Depreciation Expense 6,000 Totals $150,486 $150,486 Additional Information: Beginning Balance of Common Stock on 1/1/20xx $2.100 Beginning Balance of Retained Earnings on 1/1/20xx $46,400 No new stock was issued during the accounting period. . Hint: Please remember the formula for retained earnings when preparing this statement Question: What is the amount shown for Total Current Assets shown on the Classified Balance Sheet you prepared on your scratch paper?