Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following items:

1. $64,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025.
2. Prepaid rent of $38,000, covering the period January 1, 2022, through December 31, 2023.
3. Notes payable of $228,000. The notes are payable in annual installments of $34,000 each, with the first installment payable on March 1, 2022.
4. Accrued interest payable of $26,000 related to the notes payable.
5. Investment in equity securities of other corporations, $108,000. Cone intends to sell one-half of the securities in 2022.

Required: Prepare the asset and liability sections of a classified balance sheet to show how each of the above items should be reported.

DNT myUNT Universit... Pisces vs - Choos.... Conn italSource Chapter 3 -HW i Saved 1 CONE CORPORATION Balance Sheet (Partial) At December 31, 2021 Assets 0.61 points Current assets: Investment in equity securities Prepaid rent eBook Investments: Restricted cash Investment in equity securities 64,000 References Other assets: Prepaid rent Liabilities and Shareholders' Equity Current liabilities: Interest payable Notes payable (current maturities of long-term debt) $ 26,000 34.000 Long-term liabilities: Notes payable (long-term)