M4-14 through M4-17 (Static) Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting a Balance Sheet and Recording Closing Journal Entries [LO 4-4, LO 4-5] [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. M4-16 (Static) Required: 1. Prepare a classified balance sheet at December 31 . 2. Are the Sky Blue Corporation's assets financed primarily by debt or equity