Adams Company reports the following balance sheet accounts as of December 31. Salaries payable Buildings Prepaid rent Merchandise inventory Accounts payable $ 7,300 Retained earnings 75,800 Notes payable (due in 9 years) 8,300 office supplies 16,600 Land 23,000 Accumulated depreciation-Building Prepaid insurance Accounts receivable Common stock Required: Prepare a classified balance sheet. Current assets $ 70,000 56,000 4,600 48,000 7,600 5,600 Mortgages payable (due in 5 years) 17,000 Cash 38,000 42,000 16,000 ADAMS COMPANY Balance Sheet December 31 Assets