Gatti Corporation reported the following balances at June 30.

Required:
1. What amount should be reported as "Cash and Cash Equivalents"?
2. Prepare a classified balance sheet. Do not show the components that add up to your answer in requirement 1 but rather show only the line "Cash and Cash Equivalents."

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Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment $110 70 40 10 15 100 Depreciation Expense Dvidends Equipment Notes Payable (long-term) Notes Payable (short-term) Petty Cash Restricted Cash (short-term)20 Retained Earnings Salaries and Wages Expense Service Reven Unearned Revenue Utilities Expense 40 400 480 40 300 e0 30 ue Cash Equivalents Common Stock