Given the following year end balances, prepare a classified balance sheet for Shelly Company dated December 31, 20X8.
Interest Expense $ 2,000
Beginning Retained Earnings 13,100
Depreciation Expense 5,200
Cash 26,900
Accounts Payable 3,300
Rent Expense 7,200
Accumulated Depreciation 13,500
Wage Expense 59,200
Prepaid Rent 1,400
Paid in Capital 9,000
Accounts Receivable 13,600
Wages Payable 3,200
Equipment 63,000
Sales 249,600
Inventory 14,400
Long term Note Payable 20,000
Income tax Expense 24,500
Dividends Declared 21,000
Cost of Goods Sold 94,300
Dividends Payable 21,000
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