Required:

Prepare a classified balance sheet at December $31,2024,$ by updating ending balances from $2023$ for transactions during $2024$ and the additional information. The cost of furniture and fixtures and their accumulated depreciation are shown separately.

Note: Amounts to be deducted should be indicated by a minus sign.

$\backslash$table$[[$KORVER SUPPLY COMPANY$],[$Balance Sheet$],[$At December $31,2024],[$Assets$],[$Current assets:$],[$Cash$,$$$,168,000],[$Accounts receivable,,$320,000],[$Inventory$],[$Total current assets,,$488,000],[$Property$,$ plant, and equipment:$],[$Furniture and fixtures$],[$Accumulated depreciation$],[$Net property, plant, and equipment,,$0],[$Total assets,$$,488,000],[$Liabilities and Shareholders' Equity$],[$Current liabilities:$],[$Accounts payable$],[$Notes payable$],[$Interest payable,,$]]$