Exercise 9-14A Preparing a classified balance sheet LO 9-6

Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.

Accounts receivable	$	43,550
Accounts payable		7,045
Cash		15,260
Common stock		43,000
Land		25,240
Long-term notes payable		20,800
Merchandise inventory		28,075
Retained earnings		41,280

ALPHA CO. Classified Balance Sheet As of December 31, Year 1 Current assets Total current assets Property, plant and equipment Total property, plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity