Safety-First Company completed all of its October 31, 2020, adjustments in preparation for preparing its financial statements, which resulted in the following trial balance. Account Accounts payable Accounts receivable Accumulated depreciation, building Accumulated depreciation, equipment Accumulated depreciation, furniture Allowance for doubtful accounts Building Cash Equipment Expenses, including cost of goods sold Furniture Land Merchandise inventory Note payable Sales Tarifa Sharma, capital Unearned revenues Balance $ 12,220 20,800 80,200 38,400 21,900 980 137,400 12,000 91,200 762,200 51,100 106,100 35,700 86,300 904,100 63,480 8,920 Other information: 1. All accounts have normal balances. 2. $27,400 of the note payable balance is due by October 31, 2021. The final task in the year-end process was to assess the assets for impairment, which resulted in the following schedule. Asset Land Building Equipment Furniture Recoverable Value $ 137,400 106,600 29,600 16,400 Required: 2. Prepare a classified balance sheet at October 31, 2020. (Be sure to list the current assets in the order of liquidity and fixed assets in order of land, building, equipment, and furniture. Enter all amounts as positive values.) X Answer is complete but not entirely correct. SAFETY-FIRST COMPANY Balance Sheet October 31, 2020 Assets Current assets: Cash $ 12,000 Accounts receivable $ 20,800 Less: Allowance for doubtful accounts 980 19,820 Merchandise inventory 35,700 Total current assets $ 67,520 Property, plant and equipment: Land $ 106,100 $ 57,200 Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Furniture Less: Accumulated depreciation Total property, plant and equipment 137,400 80,200 91,200 X 38,400 $ 52,800 $ 51,100 21,900 29,200 245,300 312,820 Total assets $ Liabilities Current liabilities: $ Accounts payable Current portion of long-term note Unearned revenues 12,220 86,300 8,920 Total current liabilities $ 107,440 Non-current liabilities: Note payable, less current portion 86,300 X Total liabilities $ 193,740 Equity Tarifa Sharma, capital Total liabilities and equity 63,480 257,220 $