On December 31, 2019, Stevens Company’s bookkeeper prepared the following balance sheet with items erroneously classified.

Required:
Next Level You determine that the account balances listed on the balance sheet are correct but, in certain cases, incorrectly classified. Prepare a properly classified balance sheet for Stevens as of December 31, 2019.

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Stevens Company Balance Sheet For Year Ended December 31, 2019 Current Assets: Current Liabilities: $ 9,900 $ 6,000 5,900 2,300 3,300 Accounts payable Allowance for doubtful accounts Salaries payable Taxes payable Long-Term Liabilities: Bonds payable (due 2023) Unearned rent (for 3 months) Shareholders' Equity: Retained earnings Accumulated depreciation on buildings and equipment Additional paid-in capital on common stock Common stock, $10 par Inventory Accounts receivable 800 1,500 2,500 Cash Treasury stock (at cost) Long-Term Investments: Temporary investments in marketable securities Investment in held-to-maturity bonds Property, Plant, and Equipment: Land Office supplies Buildings and equipment Intangibles: Patents (net) Prepaid insurance (for 6 months) Discount on bonds payable Total Assets 11,000 900 3,200 10,000 8,100 800 24,200 35,600 9,200 10,400 12,000 5,000 1,200 1,000 $82,400 Total Credits $82,400