Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash $42,500 2,700 18,000 8,400 5,700 9,400 Notes payable (due in 7 years). 44,000 Office supplies 2,400 Common stock 17,000 Retained earnings 13,000 Wages payable 3,700 Required: Prepare a classified balance sheet.