Classified Balance Sheet (report format)

are normal. A Company provided the following account balances on Dec. 31, 2021. All balances Common stock Additional paid in capital P10,000,000 Retained earnings 1.000,000 Serial bonds payable (P1,000,000 due every July 1 of each year) 5,000,000 Employees Income Tax Payable 40,000 Notes payable 200,000 Accrued expenses 60,000 Accrued interest on notes payable 20,000 Income tax payable 120,000 Allowance for doubtful accounts 100,000 Advances from customers 200,000 Accounts receivable 1,000,000 Accumulated depreciation-building 3,200,000 Accumulated depreciation-machinery 2,600,000 Investment in bonds 3,000,000 Land 3,000,000 Machinery 4,000,000 Factory supplies 100,000 Notes receivable 300,000 Building 8,000,000 Cash 840,000 Accounts receivable, others 40,000 Finished goods 800,000 Franchise 400,000 Work in process 1,200,000 Prepaid insurance 40,000 Raw materials 400,000 Trading securities 500,000 Small tools 80,000 Goodwill 200,000 Plant expansion fund 1,000,000 Accounts payable 600,000 REQUIRED: 1. Prepare a properly classified balance sheet (report format) as of Dec. 31, 2021 There is no need to prepare supporting schedules