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5. Prepare a classified balance sheet at July 31. Answer is not complete. BEARINGS & BRAKES CORPORATION Balance Sheet Assets Llabilities Current Assets Current Liabilities Accounts Payable Cash Supplies Total Current Assets Equipment Buildings Land Total Current Liabilities Notes Payable (long-term) 494,000 786,000 268,000 Stockholders' Equity Common Stock Retained Earnings Retained E Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets $1,548,000 0 Required information [The following information applies to the questions displayed below.) Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 79,000 600,000 100,000 270,000 168,000 494,000 3,000 1,016,000 6,000 During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 on account. 5. Prepare a classified balance sheet at July 31