required using the information from the alphabetized post closing trial balance belo 4373687

Required Using the information from the alphabetized post-closing trial balance below, prepare a classified balance sheet for Waratah Pharmaceuticals Inc. as at March 31, 2014. Be sure to use proper form including all appropriate subtotals.Account Description…………………Account Balance*Accounts payable ………………………………………………………………………. $ 20,400Accounts receivable …………………………………………………………………… 67,200Accumulated amortization, patent……………………………………………….. 50,400Accumulated depreciation, equipment………………………………………….. 148,800Accumulated depreciation, vehicles ………………………………………………. 62,400Advertising payable ……………………………………………………………………. 3,000Allowance for doubtful accounts………………………………………………….. 3,600Cash……………………………………………………………………………………….. 28,800Common shares, 100,000 shares authorized; 25,000 shareswere issued at an average price of $9.60; market price per share onMarch 31, 2014, was $10.80…………………………………………………………………….. ?Equipment……………………………………………………………………………….. 468,000Income tax payable ……………………………………………………………………. 55,200Notes payable** ………………………………………………………………………… 144,000Patent ……………………………………………………………………………………… 115,200Prepaid rent ……………………………………………………………………………… 55,200Retained earnings……………………………………………………………………………………. ?Unearned revenues ……………………………………………………………………. 27,600Vehicles ……………………………………………………………………………………. 81,600Analysis Component:1. What percentage of the assets is financed by debt?2. What percentage of the assets is financed by equity?3. Assuming that 37% of the company’s assets were financed by debt at March 31, 2013, has the balance sheet been strengthened over the current year?View Solution:
Required Using the information from the alphabetized post closing trial balance

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