. CLASSIFIED BALANCE SHEET. College Spirit sells sportswear with logos of major universities. At the end of 19x6 the following balance sheet account balances were available:

REQUIRED:
Prepare a classified balance sheet for College Spirit. L-1

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Accounts payable $106,300 Accounts receivable 6,700 Accumulated depreciation, furniture and fixtures 21,700 Bonds payable 180,000 Capital stock 300,000 Cash 14,200 Furniture and fixtures 88,000 Income taxes payable 11,400 Inventory, sportswear 479,400 Long-term investment in equity securities 110,000 Note payable, short-term... 50,000 Prepaid rent, building (current) 54,000 Retained earnings, 12/31/x6 82,900