The financial statement items for Carter Bowling Alley at year end December 31, 2024, contain the following accounts:

Instructions
a. Prepare a classified balance sheet in good form as at December 31, 2024; assume that $30,000 of the note payable will be paid in 2025.
b. Comment on the company’s liquidity.

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Building Accounts Receivable Prepaid Insurance Cash Equipment Land Insurance Expense Depreciation Expense Interest Expense $128,800 14,520 4,680 18,040 62,400 65,000 780 7,360 3,800 C. Carter, Capital Accumulated Depreciation-Building Accounts Payable Notes Payable Accumulated Depreciation-Equipment Interest Payable Service Revenue $113,000 42,600 12,300 97,780 18,720 3,800 17,180