QS $4-21($Algo$)$ Preparing a classified balance sheet for a merchandiser L

Clear Water Company reports the following balance sheet accounts as of December $31.$

Buildings

Accounts receivable

Land

Merchandise inventory

Accounts payable

Cash

Notes payable $($due in $7$ years$)$

Office supplies

Common stock

Retained earnings

Wages payable

Accumulated Depreciation$-$Buildings

Prepare a classified balance sheet.

$57,500$

$3,300$

$30,600$

$9,600$

$6,300$

$10,600$

$56,000$

$3,600$

$19,000$

$23,000$

$4,300$

$6,600$

Clear Water Company

Balance Sheet

December $31$

Assets

Current assets

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