$125,000 Payroll taxes payable 177,591 Prepare a classified balance sheet in good form. (No monetary amounts are to be shown.) P4.2 (LO 1) Excel (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2025. Goodwill Accumulated depreciation-equipment Inventory $292,000 239,800 Bonds payable 300,000 Rent payable (short-term) 45,000 Discount on bonds payable 15,000 Income taxes payable 98,362 Cash 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock, $1 par value 200,000 Notes receivable 445,700 Preferred stock, $10 par value 150,000 Notes payable (to banks) 265,000 Prepaid expenses 87,920 Accounts payable 490,000 Equipment 1,470,000 Retained earnings Debt investments (trading) 121,000 Income taxes receivable 97,630 Notes payable (long-term) 1,600,000 Accumulated depreciation-buildings Buildings 270,200 1,640,000