Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.

Accounts receivable ........................................$26,500
Accounts payable ............................................ 12,200
Cash ................................................................... 20,500
Common stock ................................................. 30,000
Land ................................................................... 10,000
Long-term notes payable .................................17,500
Merchandise inventory .....................................26,300
Retained earnings ............................................ 23,600