Mel King has asked you to prepare a classified balance sheet for Pad Co. as of December 31, 2017. Ending merchandise inventory was $1,800:

10 Mel King has asked you to prepare a classified balance sheet for Pad Co, as of December 31, 2017 Ending merchandise inventory was $1,800 10 Cash Prepaid Rent Prepaid Insurance Office Equipment Accum. Depreciation Accounts Payable Salaries Payable Notes Payable (long-term) 3. Pad, Capital $1,500 4,500 3,000 4,500 3,089 1,800 2,250 1,569 9,750 eBook References Assets Current assets Cash Prepaid insurance Prepaid rent PAD COMPANY Balance Sheet December 31, 2017 Liabilities Current abilities Accounts payable Notes payable Salaries payable S $ 1,500 3,000 1.800 1.500 2,250 4.500 7.500 Office equipment (net Total current assets 9,750 S 16,500 J. Pad, capital Total current liabilities Long-term liabilities $ 15,300 $ 15,300 Total liabilities Owner's Equity Plant and equipment Total assets $ 16,500 Total liabilities and owner's equity $ 15 300