Required:

Use the given information to prepare a classified balance sheet for Alpha Company at the end of Year $1$: Accounts receivable $ $43,280$

Accounts payable $6,135$

Cash $17,530$

Common stock $41,000$

Land $29,430$

Long$-$term notes payable $22,350$

Merchandise inventory $30,550$

Retained earnings $51,305$