Check m Problem: Module 3 Textbook Problem 8 Learning Objective: 3-8 Distinguish between current and noncurrent assets and liabilities on a classified bala sheet Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable. $41,750 Accounts payable 7,410 Cash. 16,740 Common stock 43,500 Land 16,000 Long-term notes payable 21,500 Merchandise inventory. Retained earnings 30,700 32,780 Assets Current assets ALPHA CO. Classified Balance Sheet As of December 31, Year 1 Total current assets Property, plant and equipment Total property, plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity