Exercise $3-8($Static$)$ Balance sheet; current versus long$-$term classification $[$LO$3-2,3-3]$

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$.$ Prepald rent of $$24,000,$ covering the perlod 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 securlites 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.

Answer is not complete.

$\backslash$table$[[$CONE CORPORATION$],[$Balance Sheet $($Partial$)],[$At December $31,2024],[$Assets$],[$Current assets:$],[$Investment in equity secur$,,$$$40,000$vv$],[$Prepaid rent,$,12,000],[$Long$-$term investments:$],[$Restricted cash,x$,0],[$Investment in equity secur$,,40,000],[$Other assets:$],[$Prepaid rent,$,12,000],[$Liabilities and Shareholders' Equity$],[$Current liabilities:$],[$Interest payable,$,$$$12,000$vv$],[$Notes payable $($current ma$,,20,000],[$Long$-$term liabilities:$],[$Notes payable $($long$-$term$),,180,000]]$