Required Information Exercise 3-21B Complete the accounting cycle (LO3-3, 3-4, 3-5, 3-6) On January 1. Year 1, the general ledger of a company includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 25, 3ee 6,700 4,6ee 65,eee $ 4,7ee 88,eee 16,989 $191,600 $191,600 During Year 1, the following transactions occur January 2 Purchase rental space for one year in advance, $10,5ee ($875/month). January 9 Purchase additional supplies on account, $5,eee. January 13 Provide services to customers on account, $27,000. January 17 Receive cash in advance from customers for services to be provided in the future, $5,200. January 20 Pay cash for salaries, $13, eae. January 22 Receive cash on accounts receivable, $25,680. January 29 Pay cash on accounts payable, $5,500. Exercise 3-21B Part 5 5. Prepare a classified balance sheet as of January 31, Year 1. Balance Sheet January 31, Year 1 Assets Liabilities Current assets: Cash Current liabilities: Accounts Payable Deferred Revenue Accounts Receivable Supplies Prepaid Rent 0 Total current assets Long-term assets: Land Total current liabilities Stockholder's Equity Common Stock Retained Earnings 0 Total stockholders' equity Total liabilities and stockholders' equity Total assets $ 0 $ 0