Balance Sheet:

The following is the ending balances of accounts at June 30, 2017 for WorkBee Company.

Account Title	Debits	Credits
Cash	148,000
Accounts receivable	280,000
Prepaid expenses	35,000
Land	72,000
Buildings	320,000
Accumulated depreciationbuildings		160,000
Investments	265,000
Salaries Payable		120,000
Accounts payable		173,000
Deferred Revenue		45,000
Notes payable		100,000
Mortgage payable		250,000
Common stock		100,000
Retained earnings		172,000
Totals	1,120,000	1,120,000

Additional Information:

1. The accounts receivable account consists of the following:

a. Amounts owed by customers	$225,000
b. Allowance for uncollectible accountstrade customers	(15,000)
c. Nontrade note receivable (due in three years)	65,000
d. Interest receivable on note (due in four months)	5,000
??Total	$280,000

2. The notes payable account consists of two notes of $50,000 each. One note is due on September 30, 2017, and the other is due on November 30, 2018.

3. The mortgage payable is payable in semiannual installments of $5,000 each plus interest. The next payment is due on October 31, 2017. Interest has been properly accrued and is included in accrued expenses.

4. Five hundred thousand shares of no par common stock are authorized, of which 200,000 shares have been issued and are outstanding.

5.The land account includes $50,000 representing the cost of the land on which the company's office building resides. The remaining $25,000 is the cost of land that the company is holding for investment purposes.

6.Deferred revenue will be recognized as revenue equally over the next two fiscal years.

7.The note payable is due in annual installments of $1,000 each.

8.Investments include $65,000 in Treasury bills purchased on November 30, 2016. The bills mature on January 30, 2018. The remaining $200,000 includes investments in marketable equity securities that the company intends to sell in the next year.

9.Prepaid expenses include $12,000 paid on December 31, 2016, for a two-year insurance plan on the assets.

10.Cash includes a $20,000 amount for compensating balance at the bank, and $50,000 cash put aside for sinking fund in support of a planned future bond issuance.

Required:

Prepare a well classified balance sheet for the WorkBee Company at June 30, 2017.