Cone Corporation is in the process of preparing its December 31, 2024, balance sheet. There are some questions as to the proper classification of the following items: a. $50,000 in cash restricted in a savings account to pay debt. The debt matures in 2028. b. Prepaid rent of $24,000, covering the period January 1, 2025, through December 31, 2026. c. Notes payable of $200,000. The notes are payable in annual installments of $20,000 each, with the first installment payable on March 1, 2025. d. Accrued interest payable of $12,000 related to the notes payable is due June 30, 2025. e. Investment in equity securities of other corporations, $80,000. Cone intends to sell one-half of the securities in 2025. Required: Prepare the asset and liability sections of a classified balance sheet to show how each of the above items should be reported. Current assets: Investment in equity securities Prepaid rent Long-term investments: Bonds payable Other assets: Current liabilities: CONE CORPORATION Balance Sheet (Partial) At December 31, 2024 Assets Liabilities and Shareholders' Equity Long-term liabilities:

Cone Corporation is in the process of preparing its December 31,2024 , balance sheet. There are some questions as to the proper classificetion of the following items a. $50,000 in cash restricted in a savings account to pay debt. The debt matures in 2028 b. Prepaid rent of $24,000, covering the period January 1, 2025, through December 31,2026. c. Notes payable of $200,000. The notes are payable in annual instaliments of $20,000 each, with the first instaliment payable on March 1, 2025. d. Accrued interest payable of $12,000 related to the notes payable is due June 30,2025 e Investment in equity securities of other corporations, $80,000. Cone intends to sell one-half of the securities in 2025 Required: Prepare the asset and liability sections of a classified balance sheet to show how each of the above items should be reported. Required: Prepare the asset and liability sections of a classifled balance sheet to show how each of the above items should be reported