Adams Co. reports the following balance sheet accounts as of December 31. Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock $ 7,400 Retained earnings 77,400 Notes payable (due in 9 years) 8,400 Office supplies 16,800 Land 24,000 Accumulated depreciation-Building 5,800 Mortgages payable (due in 5 years) 18,000 Cash 24,000 $ 64,000 58,000 4,800 50,000 7,809 40,000 44,000 Required: Prepare a classified balance sheet. (Amounts to be deducted should be indicated by a minus sign.) ADAMS CO. Balance Sheet December 31 Assets Current assets 10 of 10 Next