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

Buildings	$	37,500
Accounts receivable		2,500
Land		16,000
Merchandise inventory		8,000
Accounts payable		5,500
Cash		9,000
Notes payable (due in 7 years)		40,000
Office supplies		2,000
Common stock		15,000
Retained earnings		11,000
Wages payable		3,500

Required: Prepare a classified balance sheet.