phareAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Cornerstone Exercise 3-26 (Algorithmic) Preparing a Balance Sheet Sparrow Company had the following adjusted trial balance at December 31, 2019. Credit Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Cash $2,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense $24,000 1,800 4,450 3,875 8,000 2,255 10,500 99,600 49,400 walculator Salaries Expense 49,400 Rent Expense Insurance Expense 17,250 2,200 4,950 Depreciation Expense Income Taxes Expense 5.400 Totals Required: Prepare a classified balance sheet for Sparrow at December Sparrow Company Balance Sheet December 31, 2019 Current assets: Cash Accounts receivable Prepaid insurance Total current assets Property, plant, and equipment: Equipment Less: Accumulated depreciation Total property, plant, and equipment n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Trepalsualice Total current assets Property, plant, and equipment: Equipment Less: Accumulated depreciation Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Salaries payable Unearned service revenue Total current liabilities Stockholders' Equity Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity