Required information Use the following information for Quick Studies below. [The following information applies to the questions displayed below.) The following is the adjusted trial balance of Sierra Company. The Retained Earnings account balance was $5,500 on December 31 of the prior year. Credit Debit $ 5,600 500 4,000 20,000 Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) Common stock Retained earnings Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals $12,000 2,500 3,000 5,000 5,500 1,000 9,500 3,500 2,eee 1,500 $37,500 $37,500 QS 3-23 Preparing a classified balance sheet LO C3 Use the information adjusted trial balance to prepare Sierra Company's classified balance sheet as of December 31