Smith and Smith Wireless reported these figures in its December 31, 2020, financial statements. (Click the...

 

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Smith and Smith Wireless reported these figures in its December 31, 2020, financial statements. (Click the icon to view the figures.) Prepare Smith and Smith Wireless's classified balance sheet at December 31, 2020. Use the report format with all headings. Prepare the balance sheet by beginning with the heading. Then complete the asset section, the liability section, and finally the owner's equity section in the proper order. Assets Current assets: Total current assets Total assets Current liabilities: Liabilities Total current liabilities Total liabilities Owner's Equity Total liabilities and owner's equity iAccounts Accounts payable $ 8,600 Accounts receivable 6,800 Accrued liabilities 3,600 Cash 8,200 Cost of goods sold 50,000 Equipment, net 17,400 Inventory 940 Long-term note payable 3,400 Net sales revenue 76,000 Total operating expenses 35,000 V. Smith, capital 17,740 Print Done - Smith and Smith Wireless reported these figures in its December 31, 2020, financial statements. (Click the icon to view the figures.) Prepare Smith and Smith Wireless's classified balance sheet at December 31, 2020. Use the report format with all headings. Prepare the balance sheet by beginning with the heading. Then complete the asset section, the liability section, and finally the owner's equity section in the proper order. Assets Current assets: Total current assets Total assets Current liabilities: Liabilities Total current liabilities Total liabilities Owner's Equity Total liabilities and owner's equity iAccounts Accounts payable $ 8,600 Accounts receivable 6,800 Accrued liabilities 3,600 Cash 8,200 Cost of goods sold 50,000 Equipment, net 17,400 Inventory 940 Long-term note payable 3,400 Net sales revenue 76,000 Total operating expenses 35,000 V. Smith, capital 17,740 Print Done -