McK Nursery, Incorporated, reports the following account balances on December 31, 2024: cash, $31,000; accounts receivable, $26,000; inventory, $40,000; equipment (net), $82,500; operating leases, $12,500; accounts payable, $29,000; salaries payable, $12,500; interest payable, $8,500; notes payable (due in 18 months), $45,000; common stock, $80,000. Required: Prepare a classified balance sheet for McK Nursery, Incorporated. Answer is not complete. McK NURSERY, Incorporated Balance Sheet At December 31, 2024 Current assets: Cash Accounts receivable Inventory Total current assets Long-term assets: Assets $ 31,000 26,000 40,000 97,000 Operating leases 12,500 Equipment (net) Total assets 82,500 $ 192,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 29,000 Salaries payable 12,500 Interest payable 8,500 Total current liabilities Long-term liabilities: Notes payable Total liabilities Stockholders' equity: Common stock Retained earnings $ 80,000 50,000 45,000 95,000 Total stockholders' equity 80,000 Total liabilities and stockholders' equity $ 175,000