Classified Balance Sheet

Review the December 31, 2030 post-closing trial balance for Falcon Corporation. Prepare a classified balance sheet for Falcon for December 31, 2030.

AccountsDebitCreditCash$ 23,100Accounts receivable 23,000 Prepaid insurance 4,600Supplies 170,000 Investments (long-term) 56,000 Land 49,000Buildings 271,000Accumulated depreciation 85,000Accounts payable 37,000Notes payable, due 2031 69,000Interest payable 10,000Notes payable, due 2040 124,000Common stock 170,000Retained earnings 101,700Totals$ 596,700$ 596,700