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McK Nursery, Incorporated, reports the following account balances on December 31, 2024: cash, $25,000; accounts receivable, $20,000; Inventory, $34,000; equipment (net), $79,500; operating leases,
McK Nursery, Incorporated, reports the following account balances on December 31, 2024: cash, $25,000; accounts receivable, $20,000; Inventory, $34,000; equipment (net), $79,500; operating leases, $9,500; accounts payable, $23,000; salaries payable, $9,500; interest payable, $5,500; notes payable (due in 18 months), $39,000; common stock, $68,000. Required: Prepare a classified balance sheet for McK Nursery, Incorporated. MCK NURSERY, Incorporated Balance Sheet At December 31, 2024 Current assets: Total current assets Long-term assets: Total assets Current liabilities: Assets Liabilities and Stockholders' Equity + Total current liabilities Long-term liabilities:
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