Reference no: EM132562347
Question - Sparrow Company had the following adjusted trial balance at December 31, 2018.
Sparrow Company Adjusted Trial Balance December 31, 2018
Debit Credit
Cash $2,750
Accounts Receivable 5,650
Prepaid Insurance 4,480
Equipment 42,000
Accumulated Depreciation, Equipment $24,000
Accounts Payable 2,400
Salaries Payable 4,450
Unearned Service Revenue 3,875
Common Shares 8,000
Retained Earnings 2,255
Dividends Declared 10,500
Service Revenue 99,600
Salaries Expense 49,400
Rent Expense 17,250
Insurance Expense 2,200
Depreciation Expense 4,950
Income Tax Expense 5,400
Totals $144,580 $144,580
Required - What is the classified statement of financial position for Sparrow at December 31, 2018.
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