Additional Information:\ The

$146,000

balance in the land account consists of

$113,000

for the cost of land where the plant and office buildings are located. The remaining

$33,000

represents the cost of land being held for speculation.\ The

$70,000

balance in the investment in equity securities account represents an investment in the common stock of another corporation. Valley intends to sell one-half of the stock within the next year.\ The notes payable account consists of a

$126,000

note due in six months and a

$189,000

note due in three annual installments of

$63,000

each, with the first payment due in August of 2025.\ Required:\ Prepare a classified balance sheet for the Valley Pump Corporation at December 31, 2024. Use the additional information to help determine appropriate classifications and account balances.\ Note: Amounts to be deducted should be indicated by a minus sign.

Additional Information: 1. The $146,000 balance in the land account consists of $113,000 for the cost of land where the plant and office buildings are located. The remaining $33,000 represents the cost of land being held for speculation. 2. The $70,000 balance in the investment in equity securities account represents an investment in the common stock of another corporation. Valley intends to sell one-half of the stock within the next year. 3. The notes payable account consists of a $126,000 note due in six months and a $189,000 note due in three annual installment of $63,000 each, with the first payment due in August of 2025 . Required: Prepare a classified balance sheet for the Valley Pump Corporation at December 31, 2024. Use the additional information to help determine appropriate classifications and account balances. Note: Amounts to be deducted should be indicated by a minus sign