Exercise 3-24 (Algo) Preparing a classified balance sheet LO C2 Use the following selected accounts and amounts with normal balances from Andrea Company's adjusted trial balance to prepare its classified balance sheet at December 31 Accounts payahl $ 12,200 Accounts receivable $4,700 Land 37.00 Accumulated depreciation Machinery 18,300 15,100 Notes payable (due in 7 years) 34,600 Salaries payable 1,700 Long-term investments in bonds 1,400 Retained Earnings 27,600 Notes receivable (due in 4 years) 19,200 Machinery 25.00 Merchandise Inventory 5,700 Prepaid insurance 4,880 Common stock 25,600 ANDREA COMPANY Balance Sheet December 31 Assets Current assets 5 12.2001 34 500 Common stock 45 800