Required:

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

$\backslash$table$[[$Accounts receivable,$$43,520,$

Accounts Payable $$7,025,$ cash $$17,570,$ common stock $$45,000,$ land $$14,000,$ longterm note payable $$21,100,$ merchandise inventory $$29,175,$ retained earnings $$31,140$