Preparing the Current Asset Section Prepare the current asset section of a classified balance sheet given the following account balances on December 31, 2020. Accounts receivable $800 Allowance for doubtful accounts $36,000 Cash equivalents 1,600 Equipment 40,000 Inventory 11,200 Prepaid insurance 80,000 40,000 Accounts payable Cash 800 Note: Combine cash and cash equivalents into one line item. Current Asset Section As of December 31, 2020 Cash and cash equivalents $ Accounts receivable, net of allowance 40,000 Total current assets $ Please answer all parts of the