Exercise 4-19 (Static) Preparing a classified balance sheet for a merchandiser LO P4 Adams Company reports the following balance sheet accounts as of December 31. Salaries payable Buildings $ 6,000 Retained earnings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock $ 50,000 55,000 Notes payable (due in 9 years) 7,000 Office supplies 30,000 2,000 14,000 Land 22,000 10,000 Accumulated depreciation-Building 5,000 3,000 Mortgages payable (due in 5 years) 12,000 4,000 Cash 16,000 10,000 Current assets Total current assets Plant assets Total plant assets Total assets Current liabilities Total current liabilities Long-term liabilities ADAMS COMPANY Balance Sheet December 31 Assets + 0 $ 0 Liabilities S 0 Total plant assets Total assets Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Total equity Total liabilities and equity 0 0 $ 0 Liabilities Equity 69 $ SA $ 0 0 0 + 0 0