Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies Common stock Retained earnings Wages payable $ 25,000 2,000 11,000 7,000 5,000 8,000 30,000 1,000 10,000 6,000 3,000 Required: Prepare a classified balance sheet. Clear Water Co. Balance Sheet December 31 Assets Current assets Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies Common stock Retained earnings Wages payable $ 25,000 2,000 11,000 7,000 5,000 8,000 30,000 1,000 10,000 6,000 3,000 Required: Prepare a classified balance sheet. Clear Water Co. Balance Sheet December 31 Assets Current assets