The following items were taken from the post adjusted trial balance of Flip Company. (All balances are normal.)

Instructions:

Prepare a classified balance sheet in good form as of December 31, 2013.

Mortgage payable Prepaid expenses Equipment Long-term investments Short-term investments Notes payable in 2014 Cash $ 1,443 880 11,000 1,100 3,690 1,000 2,100 Accumulated depreciation Accounts payable Notes payable after 2015 Flip's capital Accounts receivable Inventories 3,655 1,444 1,200 13,480 1,696 1,756