Prepare a classified balance sheet for Tucson Company for the year ended December 31 using the following data.

Note: Amounts to be deducted should be indicated by a minus sign.

Common stock	$ 1,000
Cash	23,600
Land	43,000
Retained earnings	16,000
Accounts receivable	6,600
Paid-in capital in excess of par value, common stock	17,000
Notes payable (due in 5 years)	13,600
Preferred stock	8,000
Salaries payable	8,600
Accounts payable	13,000
Treasury stock	6,000
Paid-in capital in excess of par value, preferred stock	2,000