Black, Brown, and Red are forming The Artful Partnership. Black is transferring $40,000 of personal cash and equipment worth $30,000 to the partnership. Brown owns land worth $22,000 and a small building worth $80,000, which he transfers to the partnership. There is a long-term mortgage of $25,000 on the land and building, which the partnership assumes. Red transfers cash of $11,000, accounts receivable of $37,000, supplies worth $5,000, and equipment worth $26,000 to the partnership. The partnership expects to collect $34,000 of the accounts receivable. Instructions Prepare a classified balance sheet for the partnership after the partners investments on December 31, 2017.