From the following, prepare a classified balance sheet for Bach Crawlers as of December 31, 2017. Ending merchandise inventory was $6,000 for the year. Cash Prepaid rent Prepaid insurance Office equipment (net) $ 8,000 2,600 6,000 7,000 Accounts payable Salaries payable Note payable (long term) P. Bach, capital $ 2,800 2,600 10,000 14,200 *What the owner supplies to the business. Replaces common stock and retained earnings section. BACH CRAWLERS Balance Sheet December 31, 2017 Liabilities Current liabilities: Assets Current assets: Total current assets Total current liabilities Long-term liabilities: Total liabilities Owner's Equity Plant and equipment: Total assets Total liabilities and owner's equity