The accounting records of Arroya Foods, Inc., include the following items at December $31,2021$:

$($Click the icon to view the accounting records.$)$

Read the requirements.

Requirement $1.$ Show how each relevant item would be reported on the Arroya Foods classified balance sheet. Include headings and totals for current liabilities and long$-$term

liabilities.

Select the labels and then enter the amounts to complete the classified balance sheet. You will need to determine the total current assets value from the information provided and your

calculations. $($Abbreviations used: liab. $=$ liabilities, NP $=$ notes payable, and pay. $=$ payable.$)$

Arroya Foods, Inc.

Partial Balance Sheet

December $31,2021$

Assets

Liabilities

Current liabilities