Exercise 9-14A (Algo) Preparing a classified balance sheet LO 9-6 Required Use the following information to prepare a classified balance sheet for Alpha Company at the end of Year 1. Accounts receivable Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings $ 40,850 6,880 14,660 43,000 28,520 20,000 29,475 43,625 Current assets Accounts receivable Cash Merchandise inventory Total current assets Property, plant and equipment Land ALPHA COMPANY Classified Balance Sheet As of December 31, Year 1 Assets $ 0 Total property, plant and equipment Total assets 0 $ 0 Liabilities and Stockholders' Equity Current liabilities Accounts payable Long-term liabilities Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 0 0 $ 0