Clear Water Company reports the following balance sheet accounts as of December 31. Buildings 30,000 Accounts receivable 2,200 Land 17,400 Merchandise inventory 7,400 Accounts payable 5,200 Cash 8,400 Notes payable (due in 7 years) 34,000 office supplies 1,400 Common stock: 8,000 Wages payable Retained earnings Accumulated Depreciation-Buildings Prepare a classified balance sheet. 12,000 3,200 4,400 Clear Water Company Current assets Accounts receivable Merchandise inventory Cash Office supplies Total current assets Plant assets Buildings Less accumulated depreciation Total plant assets Total assets Balance Sheet December 31 Assets 2,200 7,400 8,400 1,400 $ 19.400 30.000 4,400 25,600 25.600 S 45.000 Ilahilitiae Accounts receivable 2,200 Merchandise inventory 7,400 Cash 8,400 Office supplies 1,400 Total current assets Plant assets Buildings Less accumulated depreciation Total plant assets Total assets Current liabilities Accounts payable Wages payable Total current liabilities Long-term liabilities Notes payable Total liabilities Common stock Retained earnings Total liabilities and equity Liabilities Equity $ 19,400 30,000 4,400 25,600 $ 5,200 3,200 25,600 $ 45,000 $ 8,400 34,000 42,400 8,000 12,000 $ 62,400