Required Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable $43,930 Accounts payable 7,425 Cash 16,890 Common stock 43,000 Land 29,490 Long-term notes payable 24,050 Merchandise inventory Retained earnings 31,750 47,585 Current assets ALPHA CO. Classified Balance Sheet As of December 31, Year 1 Total current assets Property, plant and equipment