Cornerstone Exercise 3-26 (Algorithmic) Preparing a Balance Sheet Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Cash Accounts Receivable Adjusted Trial Balance December 31, 2019 Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense Totals Required: Debit Credit $2,550 5,650 4,480 42,000 $24,000 2,200 4,450 3,875 8,000 2,255 10,500 99,600 49,400 17,250 2,200 4,950 5,400 $144,380 $144,380 Prepare a classified balance sheet for Sparrow at December 31, 2019.