Accounts receivable Accounts payable Cash Common stock Long-term notes payable Merchandise inventory Office equipment Retained eamings Prepaid insurance $43,900 7,755 14,470 41,500 23,000 27,450 28,620 46,600 4,415 BLACKMON CO. Classified Balance Sheet As of December 31, 2014 Assets Current assets Cash Accounts receivable Merchandise inventory Prepaid insurance Total current assets 0 Property, plant and equipment Office equipment Total property, plant and equipment Total assets Liabilities Current liabilities Accounts payable Long-term liabilities Long-term notes payable Total liabilities 0 Stockholders' equity Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity