Required Use the following information to prepare a classified balance sheet for Alpha Company at the end of Year 1. Accounts receivable Accounts payable Cash Common stock Land Long-term notes payable Merchandise inventory Retained earnings Current assets Total current assets Property, plant and equipment Total property, plant and equipment Total assets Current liabilities Long-term liahilities $26,500 12, 200 20,500 30,000 10,000 17,500 ALPHA COMPANY Classified Balance Sheet As of December 31, Year 1 Assets 26,300 23,600 Liabilities and Stockholders' Equity K

Required Use the following information to prepare a classifled balance sheet for Alpha Company at the end of Year 1. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ ALPHA COMPANY } \\ \hline \multicolumn{3}{|c|}{ Classified Balance Sheet } \\ \hline \multicolumn{3}{|c|}{ As of December 31, Year 1} \\ \hline \multicolumn{3}{|c|}{ Assets } \\ \hline \multicolumn{3}{|l|}{ Current assets } \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \multicolumn{3}{|l|}{ Total current assets } \\ \hline \multicolumn{3}{|l|}{ Property, plant and equipment } \\ \hline & & \\ \hline \multicolumn{3}{|l|}{ Total property, plant and equipment } \\ \hline Total assets & & \\ \hline \multicolumn{3}{|c|}{ Liabilities and Stockholders' Equity } \\ \hline \multicolumn{3}{|l|}{ Current liabilities } \\ \hline \\ \hline & & \\ \hline \multicolumn{3}{|l|}{ Long-term liabilities } \\ \hline & & \\ \hline & & \\ \hline \multicolumn{3}{|l|}{ Total liabilities } \\ \hline \multicolumn{3}{|l|}{ Stockholders' equity } \\ \hline \\ \hline & & \\ \hline & & \\ \hline \multicolumn{3}{|l|}{ Total stockholders' equity } \\ \hline Total liabilities and stockholders' equity & & \\ \hline \end{tabular}