2. Classified balance sheet Presented are accounts from the post-closing trial balance of Uhuru Company at December 31, 2020. Credit Debit $ 230,000 357,000 $ 17,000 401,000 140,000 Cash Accounts receivable Allowance for doubtful accounts Inventory (net realizable value, $408,000) Available-for-sale debt securities (fair value, $120,000) Fair value adjustment - available-for-sale debt securities Buildings Equipment Accumulated depreciation - buildings Accumulated depreciation - equipment 20,000 730,000 265,000 160,000 125,000 Chapter 05 Homework Balance Sheet 175,000 80,000 90,000 12,000 Land held as investment property Goodwill Cash surrender value of life insurance policy Prepaid expenses Accounts payable Notes payable Pension obligation Income tax payable Premium on bonds payable Bonds payable Deferred tax asset Common stock Paid-in capital in excess of par value Retained earnings Accumulated other comprehensive loss Total 135,000 125,000 82,000 49,000 53,000 500,000 5,000 290,000 160,000 784,000 15,000 $ 2,500,000 $ 2,500,000 Additional information: 1. At year-end, the fair value of available-for-sale securities is $120,000. 2. At year-end, the net realizable value of inventory is $408,000. 3. There are 400,000 shares of $1 par value common stock authorized and 290,000 shares issued and outstanding. 4. Notes payable is due next year. 5. The bonds payable are due in 3 years. Instructions: Prepare a classified balance sheet