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Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings $ 60,000 Accounts receivable 3,400 Land 25,000 Merchandise inventory 9,800 Accounts

Clear Water Co. reports the following balance sheet accounts as of December 31.

Buildings $ 60,000

Accounts receivable 3,400

Land 25,000

Merchandise inventory 9,800

Accounts payable 6,400

Cash 10,800

Notes payable (due in 7 years) 58,000

Office supplies 3,800

Common stock 24,000

Retained earnings 20,000

Wages payable 4,400

Prepare a classified balance sheet.

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