Required: Prepare a classified balance sheet for the Valley Pump Corporation at December 31, 2021. Use the additional information to help determine appropriate classifications and account balances. (Amounts to be deducted should be indicated by a minus sign.) VALLEY PUMP CORPORATION Balance Sheet At December 31, 2021 Assets Current assets: Cash $ 25,000 56,000 Inventory $ 81,000 Net accounts receivable Prepaid expenses 81000 22.000 Total current assets Investments: Land $ 120,000 Total investments Property, plant, and equipment: Land Equipment 100,000 100,000 Net property, plant and equipment Intangible assets: Saved Equipment / 100,000 / 7 / 12 1 equipment Net property, plant, an Intangible assets: X / / 414.000 Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Deferred revenue Notes payable Interest payable Current maturities of long-term debt 65,000 20,000 100.000 10,000 50,000 245,000 Total current liabilities Long-term liabilities: Notes payable 100,000 345,000 Total liabilities Shareholders' equity Common stock Retained earnings 200,000 70,000 Total shareholders' equity Total liabilities and shareholders' equity 270,000 615.000