I 5. Create a classified balance sheet for Milo Corporation given their adjusted trial balance below...

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I 5. Create a classified balance sheet for Milo Corporation given their adjusted trial balance below for the year 2022. Note that you will need to calculate retained earnings (20pts). You do not need to create an income statement or statement of retained earnings; however, if that is necessary for you to do so to find retained earnings, than you may. It will not be graded however. Cash 22,000 Accounts Receivable 36,800 Notes Receivable-- due Jan. 31, 2023 10,000 Inventory 36,200 Prepaid Insurance 3,600 Timber 30,000 Equipment 60,000 Building 120,000 Land 20,000 Patent 9,000 Allowance for Doubtful Accounts Accumulated depletion-- timber Accumulated depreciation--equipment 500 6,000 50,000 Accumulated depreciation-- building 18,000 Accounts payable Notes payable-- due Oct. 31, 2028 27,300 46,000 Common Stock Retained Earnings Dividends Sales Revenue 50,000 63,100 18,000 900,000 500 Interest Revenue Bad Debt Expense COGS Depreciation Expense Insurance Expense 4,800 630,000 12,000 3,500 Utilities Expenses 6,000 Repairs Expense 4,200 Reseach & Development Expense 24,800 Amortization Expense 500 Salaries & Wage Expense 110,000 1,161,400 1,161,400 I 5. Create a classified balance sheet for Milo Corporation given their adjusted trial balance below for the year 2022. Note that you will need to calculate retained earnings (20pts). You do not need to create an income statement or statement of retained earnings; however, if that is necessary for you to do so to find retained earnings, than you may. It will not be graded however. Cash 22,000 Accounts Receivable 36,800 Notes Receivable-- due Jan. 31, 2023 10,000 Inventory 36,200 Prepaid Insurance 3,600 Timber 30,000 Equipment 60,000 Building 120,000 Land 20,000 Patent 9,000 Allowance for Doubtful Accounts Accumulated depletion-- timber Accumulated depreciation--equipment 500 6,000 50,000 Accumulated depreciation-- building 18,000 Accounts payable Notes payable-- due Oct. 31, 2028 27,300 46,000 Common Stock Retained Earnings Dividends Sales Revenue 50,000 63,100 18,000 900,000 500 Interest Revenue Bad Debt Expense COGS Depreciation Expense Insurance Expense 4,800 630,000 12,000 3,500 Utilities Expenses 6,000 Repairs Expense 4,200 Reseach & Development Expense 24,800 Amortization Expense 500 Salaries & Wage Expense 110,000 1,161,400 1,161,400