Brief Exercise 3-4 (Algo) Balance sheet classification [LO3-2, 3-3]

The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2021, the end of its fiscal year: cash, $23,000; accounts receivable, $18,000; inventory, $32,000; equipment (net), $87,000; accounts payable, $21,000; salaries payable, $8,500; interest payable, $4,500; notes payable (due in 18 months), $37,000; common stock, $64,000. Prepare a classified balance sheet for K and J Nursery, Inc. The equipment originally cost $150,000.