On 8 March 20X1, Tim Hunt started his own business by depositing \(\$ 20000\) in the Hunt Business cheque account at the local bank. On 14 March 20X1, the Hunt Business cheque book was stolen. During that time the Hunt Business had entered into several transactions but, unfortunately, it had not set up an accounting system for recording the transactions. Hunt did save numerous source documents that had been put into an old shoebox.

In the shoebox is a fire insurance policy dated 13 March 20X1 on a building owned by the Hunt Business. Listed on the policy was an amount of \(\$ 600\) for one year of insurance. 'Paid in Full' had been stamped on the policy. Also in the box was a deed for land and a building at 132 McMaster Road, dated 10 March 20X1, showing an amount of \(\$ 80000\) (of which \(\$ 16000\) was for the land). The deed indicated that a down payment had been made by the Hunt Business and that a mortgage was signed by the business for the balance owed.

The shoebox also contained an invoice dated 12 March 20X1 from the On-The-Go Office Equipment Business for \(\$ 1200\) of office equipment sold to the Hunt Business. The invoice indicates the amount is to be paid at the end of the month. A \(\$ 68000\) mortgage, dated 10 March 20X1, and signed by the Hunt Business, for the purchase of land and a building is also included. Finally, a 30 -day, \(\$ 8000\) note receivable is in the shoebox. It is dated 15 March \(20 \mathrm{X} 1\), and is issued to the Hunt Business by the Urban Developments Business for 'one-half of the land located at 132 McMaster Road'.

The Hunt Business has asked for your help in preparing a classified balance sheet as of 15 March 20X1. Tim Hunt indicates that business cheques have been issued for all cash payments.

Hunt has called its bank, whose records indicate that the Hunt Business' cheque account balance is \(\$ 1900\), consisting of a \(\$ 20000\) deposit, a \(\$ 400\) cheque to the Watson Office Supply Business and a \(\$ 600\) cheque to the Patz Insurance Agency, both honoured by the bank.
You notice that the Hunt Business has numerous office supplies on hand. Tim Hunt states that a business cheque was issued on 8 March 20X1 to purchase the supplies but that none had been used.
Required:
Based on the preceding information, prepare a classified balance sheet for the Hunt Business on 15 March 20X1. Show supporting calculations.