1. Using the attached sheet (or a spreadsheet if you prefer), prepare a classified balance sheet for the ABC, LLC for the year ended December 31, 2020 using the following data.

Accounts Payable	4,000
Accounts Receivable	3,000
Cash	20,000
Common Stock	1,000
Land	25,000
Notes Payable (due in 5 years)	10,000
Paid in Capital in Excess of Par - Common Stock	17,000
Paid in Capital in Excess of Par - Preferred Stock	2,000
Preferred Stock	8,000
Retained Earnings	7,000
Salaries Payable	5,000
Treasury Stock	6,000

Hint: Use the index in our textbook to find examples of a Classified Balance Sheet.

The Classified Balance Sheet Presentation