QS 4-21 (Algo) Preparing a classified balance sheet for a merchandiser LO P4 Clear Water Company reports the following balance sheet accounts as of December 31. Buildings $ 42,500 Accounts receivable Land 2,700 23,400 Merchandise inventory Accounts payable Cash 8,400 5,700 9,400 Notes payable (due in 7 years) 44,000 2,400 13,000 17,000 Wages payable 3,700 5,400 Office supplies Common stock Retained earnings Accumulated Depreciation-Buildings Prepare a classified balance sheet. Clear Water Company Balance Sheet December 31 Assets Current assets Total current assets Plant assets Total plant assets Total assets Current liabilities Total current liabilities Long-term liabilities Total liabilities Total liabilities and equity Liabilities Equity