Exercise $3-8($Algo$)$ Balance sheet; current versus long$-$term classification $[$LO$3-2,3-3]$

Cone Corporation is in the process of preparing its December $31,2024,$ balance sheet. There are some questions as to the proper

classification of the following items:

a$.$ $$66,000$ in cash restricted in a savings account to pay debt. The debt matures in $2028.$

b$.$ Prepaid rent of $$40,000,$ covering the period January $1,2025,$ through December $31,2026.$

c$.$ Notes payable of $$232,000.$ The notes are payable in annual installments of $$36,000$ each, with the first installment payable on

March $1,2025.$

d$.$ Accrued interest payable of $$28,000$ related to the notes payable is due June $30,2025.$

e$.$ Investment in equity securities of other corporations, $$112,000.$ Cone intends to sell one$-$half of the securities in $2025.$

Required:

Prepare the asset and liability sections of a classified balance sheet to show how each of the above items should be reported.