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	22,200
Land	36,000
Retained earnings	12,500
Accounts receivable	5,200
Paid-in capital in excess of par value, common stock	17,000
Notes payable (due in 5 years)	12,200
Preferred stock	8,000
Salaries payable	7,200
Accounts payable	9,500
Treasury stock	6,000
Paid-in capital in excess of par value, preferred stock	2,000