Prepare a classified balance sheet

Salaries payable$ $6,000$

Retained earnings$ $50,000$

Buildings $55,000$

Notes payable $($due in $9$ years$)30,000$ Prepaid rent $7,000$

Office supplies$2,000$

Merchandise inventory $14,000$

Land $22,000$

Accounts payable $10,000$

Accumulated depreciation$-$Building $5,000$Prepaid insurance $3,000$

Mortgages payable $($due in $5$ years$)12,000$Accounts receivable $4,000$

Cash $16,000$

Common stock $10,000$