Exercise 3-24 (Static) Preparing a classified balance sheet LO C2

Use the following selected accounts and amounts with normal balances from Andrea Companys adjusted trial balance to prepare its classified balance sheet at December 31.

Accounts payable $ 8,000 Accounts receivable $ 4,000 Land 30,000 Accumulated depreciationMachinery 16,000 Cash 13,000 Notes payable (due in 7 years) 29,000 Salaries payable 1,000 Long-term investments in bonds 7,000 Retained Earnings 22,000 Notes receivable (due in 4 years) 15,000 Machinery 20,000 Merchandise inventory 5,000 Prepaid insurance 2,000 Common stock 20,000