Clear Water Company 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 Accumulated Depreciation-Buildings Prepare a classified balance sheet. $ 37,500 2,500 21,000 8,000 5,500 9,000 40,000 2,000 11,000 15,000 3,500 5,000 Clear Water Company Balance Sheet December 31 Assets es $ Current assets Cash Accounts receivable Merchandise inventory Office supplies 9,000 2,500 8,000 2,000 $ 21,500 Total current assets Plant assets Buildings Land 37,500 21.000 16,500 Total plant assets Total assets 16,500 38,000 $ Liabilities December 31 Assets Current assets Cash Accounts receivable Merchandise inventory Office supplies 9,000 2.500 8,000 2,000 $ 21,500 Total current assets Plant assets Buildings Land 37.500 21,000 16,500 Total plant assets Total assets 16,500 38 000 $ Liabilities Current liabilitios Accounts payable Wagas payable S 5,500 3,500 S 9.000 Total current liabilities Long-term liabilities Notes payable Total liabilities 40.000 49,000 Equity Common stock Retained earnings 11,000 15,000 Total llabilities and equity $ 75,000