Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2012.

InstructionsPrepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are thesame.

Accumulated depreciation-equipment Goodwill Payroll taxes payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Unsecured notes payable (long-term) $ 292,000 239,800 45,000 98,362 480,000 200,000 150,000 87,920 1,470,000 121,000 270,200 1,640,000 $ 125,000 177,591 300,000 15,000 360,000 480,000 445,700 265,000 490,000 Inventory Rent payable (short-term) Income tax payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Equity investments (trading) Accumulated depreciation-buildings 97,630 1,600,000 Buildings