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: Accounts Debit Credit Cash $ 25,380 Accounts Receivable 6,700 Supplies 4,6ee Land 65, eee Accounts Payable $ 4,700 Common Stock 89, eee Retained Earnings 16,980 Totals $191,6ee $191,680 During Year 1. the following transactions occur. January 2 Purchase rental space for one year in advance, $19,500 ($875/month). January 9 Purchase additional supplies on account, $5,eee. January 13 Provide services to customers on account, $27,800. 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, eee. January 22 Receive cash on accounts receivable, $25,680. January 29 Pay cash on accounts payable, $5,580. 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 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