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 Cash Land Retained earnings Accounts receivable Paid-in capital in excess of par value, common stock Notes payable (due in 5 years) Preferred stock Salaries payable Accounts payable Treasury stock Paid-in capital in excess of par value, preferred stock Current assets Total current assets Plant assets Total assets Current liabilities Total current liabilities Long-term liabilities Total liabilities Total equity Total liabilities and equity TUCSON COMPANY Balance Sheet December 31 Assets Liabilities Equity $ 1,000 24,000 45,000 17,000 7,000 17,000 14,000 8,000 9,000 14,000 6,000 2,000

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