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25 Required information [The following information applies to the questions displayed below) Barnett Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Barnett Allen's June 30, 2019, trial balance. (The amounts shown represent millions of dollars.) Accounts Payable $ 108 Accounts Receivable Cash 130 Common Stock 20 Equipment Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Salaries and Wages Payable Software Assume that the following events occurred in the following quarter. a. Paid $45 cash for additional inventory. b. Issued additional shares of common stock for $40 in cash c. Purchased equipment for $240; paid $115 in cash and signed a note to pay the remaining $125 in two years. d. Signed a short-term note to borrow $10 cash. e Conducted negotiations to purchase a sawmill, which is expected to cost $28, 350 166 210 1 22 369 35 50 6. Prepare a classified balance sheet at September 30, 2019. (Enter your answers in millions (i.e. 10,000,000 should be entered as 10).) BARNETT ALLEN INTERIORS, INCORPORATED Balance Sheet At September 30, 2019 (in millions of dollars) Assets Current Assets Cash $ Accounts Receivable Inventory Prepaid Rent 20 25 211 22 Total Current Assets Software Equipment 278 50 590 $ 918 Total Assets Liabilities Current Liabilities Accounts Payable Notes Payable (short-term) Salaries and Wages Payable $ 108 10 35 Total Current Liabilities Notes Payable (long-term) 153 210 Liabilities Current Liabilities Accounts Payable Notes Payable (short-term) Salaries and Wages Payable $ 108 10 1 35 153 Total Current Liabilities Notes Payable (long-term) 210 Total Liabilities 363 Stockholders' Equity Common Stock Retained Earnings 20 369 389 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 752