Hair Stylists's adjusted trial balance and statement of retained earnings follow: Daniel Hair Stylists Adjusted Trial Balance December 31, 2018

Account Balance Debit Credit
Cash $1,000
Accounts Receivable 900
Office Supplies 600
Equipment 19,700
Accumulated Depreciation - Equipment $2,000
Accounts Payable 900
Interest Payable 550
Notes Payable 3,400
Common Stock 10,650
Dividends 700
Service Revenue 14,100
Rent Expense 5,200
Supplies Expense 100
Depreciation Expense - Equipment 2,000
Interest Expense 1,400
Total $31,600 $31,600

Daniel Hair Stylists Statement of Retained Earnings Year Ended December 31, 2018:

Retained Earnings, January 1, 2018 $0
Net Income for the year 5,400
5,400
Dividends (700)
Retained Earnings, December 31, 2018 $4,700

Required:
Prepare Daniel's classified balance sheet at December 31, 2018. Assume the Notes Payable is due on December 1, 2025. Use the report form.

Daniel Hair Stylists

Balance Sheet

For the year ended December 31, 2018

                                         Assets

Current assets

Total current assets                                                 $2,500

Non-current assets

Total non-current assets                                         $17,700

Total assets                                                            $20,200

                                          Liabilities

Current liabilities

Total current liabilities                                              $1,450

Total long term liabilities                                         $3,400

Total liabilities                                                          $4,850

                                      Owner's Equity

Owner's equity

Total owner's equity                                                 $15,350

Total liabilities and owner's equity                         $20,200

answer; someone must cover the cost associated with the provision of scarce goods in both sectors;