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Gatti Corporation reported the following balances at June 30. Accounts Payable $155 Accounts Receivable 140 Accumulated DepreciationEquipment 58 Cash 24 Cash Equivalents 29 Common Stock

Gatti Corporation reported the following balances at June 30.

Accounts Payable $155
Accounts Receivable 140
Accumulated DepreciationEquipment 58
Cash 24
Cash Equivalents 29
Common Stock 240
Depreciation Expense 70
Dividends 6
Equipment 440
Notes Payable (long-term) 80
Notes Payable (short-term) 50
Petty Cash 15
Restricted Cash (short-term) 20
Retained Earnings 31
Salaries and Wages Expense 470
Service Revenue 620
Unearned Revenue 54
Utilities Expense 74

Required:
1. What amount should be reported as Cash and Cash Equivalents?

2.

Prepare a classified balance sheet. Do not show the components that add up to your answer in requirement 1 but rather show only the line Cash and Cash Equivalents. (Amounts to be deducted should be indicated by a minus sign.)

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