Use the following information to prepare the current assets section of Lima Company’s classified balance sheet as of December 31.

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Adjusted Trial Balance Cash and equivalents Accounts receivable Merchandise inventory Prepaid insurance Land Debit Credit $ 4,000 2,000 5,000 1,000 20,000 Accounts payable M. Lima, Capital Sales $ 3,000 26,000 17,000 Cost of goods sold Wages expense Totals 8,000 6,000 46,000 46,000