S 4-18 (Algo) Preparing a classified balance sheet for a merchandiser LO P4 Clear Water Co. reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash $ 35,000 2,400 15,000 7,800 5,400 8,800 Notes payable (due in 7 years) 38,000 Common stock Wages payable Office supplies Retained earnings 1,800 14,000 10,000 3,400 Prepare a classified balance sheet. Prepare a classified balance sheet. Clear Water Co. Balance Sheet December 31 Assets Current assets Cash Accounts receivable Merchandise inventory Office supplies Total current assets Plant assets Buildings Land Total plant assets Total assets Current liabilities. Accounts payable Wages payable Total current liahilities Liabilities Total current assets Plant assets Buildings Land Total plant assets Total assets Current liabilities Accounts payable Wages payable Total current liabilities Long-term liabilities Notes payable Liabilities Total liabilities Equity Total equity Total liabilities and equity