Following are the December 31, 2012, account balances for Siraco Company.

Required:
1. Prepare a classified balance sheet as of December 31, 2012.
2. Interpretive Question: On the basis of its 2012 earnings, was this company€™s decision to pay dividends of $1,500 a soundone?

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S 775 Cash Accounts receivable Supplies Equipment Accounts payable .. Wages payable Dividends paid 1,950 2,500 1,800 11,275 3,450 250 1,500 Capital stock Retained earnings, Revenues Miscellaneous expense Supplies expense Wages expense January 1, 201212,000 10,000 1,550 ....3,700 2,200