Armstrong Associates provided the following balance sheet for its current year ended December 31 . The following account analyses were made during the company's recent year-end audit. (Click the icon to view the balance sheet.) (Click the icon to view the account analyses.) Prepare a corrected classified balance sheet. (Use the report format. If a box is not used in the statement leave the box empty; do not select a label or enter a zero.) Armstrong Associates Balance Sheet At December 31 \begin{tabular}{lrr} \hline Assets & \multicolumn{2}{c}{ Amount } \\ Cash & $ & 255,000 \\ Receivables & 1,390,000 \\ Prepaid Assets and Supplies & 722,000 \\ Property, Plant, and Equipment - net & 2,075,000 \\ \cline { 3 - 4 } & & 4,442,000 \\ \hline \hline \end{tabular} Liabilities Payables and Accrued Expenses \$ 1,040,500 Income Taxes Payable Notes Payable, due in 5 years Total Liabilities Stockholders' Equity Contributed Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity \begin{tabular}{rr} $ & 1,855,000 \\ 222,750 \\ \hline$ & 2,077,750 \\ \hline$ & 4,442,000 \\ \hline \hline \end{tabular} Receivables Accounts Receivable Indefinite-life Intangible Assets Receivables Prepaid Assets and Supplies Merchandise Inventory Prepaid Rent Prepaid Assets and Supplies \begin{tabular}{rr} $ & 641,000 \\ 81,000 \\ \hline$722,000 \\ \hline \hline \end{tabular} Payables and Accrued Expenses Accounts Payable Accrued Expenses Payables and Accrued Expenses \begin{tabular}{rr} $ & 519,000 \\ 521,500 \\ \hline$1,040,500 \\ \hline \hline \end{tabular} Contributed Capital Common Stock, $1 par value \begin{tabular}{rr} $ & 815,000 \\ 1,040,000 \\ \hline$1,855,000 \\ \hline \hline \end{tabular} Armstrong Associates provided the following balance sheet for its current year ended December 31 . The following account analyses were made during the company's recent year-end audit. (Click the icon to view the balance sheet.) (Click the icon to view the account analyses.) Prepare a corrected classified balance sheet. (Use the report format. If a box is not used in the statement leave the box empty; do not select a label or enter a zero.) Armstrong Associates Balance Sheet At December 31 \begin{tabular}{lrr} \hline Assets & \multicolumn{2}{c}{ Amount } \\ Cash & $ & 255,000 \\ Receivables & 1,390,000 \\ Prepaid Assets and Supplies & 722,000 \\ Property, Plant, and Equipment - net & 2,075,000 \\ \cline { 3 - 4 } & & 4,442,000 \\ \hline \hline \end{tabular} Liabilities Payables and Accrued Expenses \$ 1,040,500 Income Taxes Payable Notes Payable, due in 5 years Total Liabilities Stockholders' Equity Contributed Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity \begin{tabular}{rr} $ & 1,855,000 \\ 222,750 \\ \hline$ & 2,077,750 \\ \hline$ & 4,442,000 \\ \hline \hline \end{tabular} Receivables Accounts Receivable Indefinite-life Intangible Assets Receivables Prepaid Assets and Supplies Merchandise Inventory Prepaid Rent Prepaid Assets and Supplies \begin{tabular}{rr} $ & 641,000 \\ 81,000 \\ \hline$722,000 \\ \hline \hline \end{tabular} Payables and Accrued Expenses Accounts Payable Accrued Expenses Payables and Accrued Expenses \begin{tabular}{rr} $ & 519,000 \\ 521,500 \\ \hline$1,040,500 \\ \hline \hline \end{tabular} Contributed Capital Common Stock, $1 par value \begin{tabular}{rr} $ & 815,000 \\ 1,040,000 \\ \hline$1,855,000 \\ \hline \hline \end{tabular}