Required
Use the following information to prepare a classified balance sheet for Alpha Company at the end of Year 1.

Required Use the following information to prepare a classifled balance sheet for Alpha Company at the end of Year 1. Answer is complete but not entirely correct. \begin{tabular}{|c|c|c|} \hline & & \\ \hline \multirow{2}{*}{\multicolumn{3}{|c|}{ Property, plant and equipment }} \\ \hline & & \\ \hline Land & (27,250) & \\ \hline Total property, plant and equipment & & (27,250) \\ \hline Total assets & & 93,495 \\ \hline \multicolumn{3}{|c|}{ Liabilities and Stockholders' Equity } \\ \hline \multicolumn{3}{|l|}{ Current liabilities } \\ \hline Accounts payable & & 7,145 \\ \hline Accounts receivable & & 40,370 \\ \hline \multicolumn{3}{|l|}{ Long-term liabilities } \\ \hline Notes payable & & 21,250 \\ \hline Total liabilities & & 68,765 \\ \hline \multicolumn{3}{|l|}{ Stockholders' equity } \\ \hline Common stock & 44,500 & \\ \hline Retained earnings & 37,685 & \\ \hline Total stockholders' equity & & 82,185 \\ \hline Total liabilities and stockholders' equity & & $150,950 \\ \hline \end{tabular}