Use the following information to prepare a classified balance sheet
Use the following information to prepare a classified balance sheet for Watkins Co. at the end of 2013
Accounts receivable ....... $24,300
Accounts payable ........ 11,000
Cash .............. 21,300
Common stock .......... 24,000
Land ............. 15,000
Long-term notes payable ....... 18,500
Merchandise inventory ...... 27,000
Retained earnings ........ 34,100

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