23) a) Prepare a classified balance sheet for Martin Air Freight based on the year-end adjusted trial balance shown below. Cash Accounts receivable Supplies Long-term investments Shipping equipment Accumulated depreciation-Shipping equipment Patent Accounts payable Wages payable Long-term notes payable" Common stock Retained earnings. Dividends Services revenue Rent expense Wages expense Supplies expense Martin Air Freight Adjusted Trial Balance December 31 Depreciation expense-Shipping equipment Interest expense Utilities expense Totals Debit $ 18, 200 34,200 2,100 25,000 45,000 16,000 15,000 8,000 62,000 2,500 4,050 1,000 3,750 $ 236,800 Credit $ 11,080 16, 200 4,120 20,000 10,000 30, 400 145,000 $ 236,800

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