Presented below are a number of balance sheet items for Planners Inc., for the current year, 2021. Required: Prepare a classified balance sheet in good form for Planners Company on December 31,2021 . Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Land being used to house current operations has a cost of $280,000 and the rest of the land is held for speculation. Of the cash listed, $160,000 is held as a bond sinking fund