Adams Company reports the following balance sheet accounts as of December 31. Salaries payable Buildings $ 7,200 Retained earnings Prepaid rent Merchandise inventory Accounts payable Prepaid insurance Accounts receivable Common stock Required: Prepare a classified balance sheet. $ 70,000 74,200 Notes payable (due in 9 years) 8,200 Office supplies 54,000 4,400 16,400 Land 46,000 22,000 Accumulated depreciation-Building 5,400 Mortgages payable (due in 5 years) 16,000 Cash 7,400 36,000 40,000 14,000