Preparing a classified balance sheet Required Use the following information to
Preparing a classified balance sheet

Required
Use the following information to prepare a classified balance sheet for Steller Co. at the end of 2012.
Accounts receivable .... $42,500
Accounts payable ...... 8,000
Cash ............ 15,260
Common stock ....... 42,000
Long-term notes payable .... 23,000
Merchandise inventory .... 29,000
Office equipment ....... 28,500
Retained earnings ....... 45,460
Prepaid insurance ...... 3,200

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