The December 31, 2024, account balances for Cortez Company are presented below. The balances have been appropriately adjusted.

Accounts	Debit	Credit
Cash	$ 16,000
Accounts receivable	169,000
Prepaid rent	8,000
Supplies	31,000
Equipment	330,000
Accumulated depreciation		$ 126,000
Accounts payable		20,000
Salaries payable		3,100
Interest payable		1,800
Notes payable (due in two years)		20,000
Common stock		160,000
Retained earnings		140,000
Dividends	24,000
Service revenue		460,000
Salaries expense	187,000
Advertising expense	77,000
Rent expense	11,000
Depreciation expense	38,000
Interest expense	2,900
Utilities expense	37,000
Totals	$ 930,900	$ 930,900

Required:

Prepare a classified balance sheet for Cortez Company as of December 31, 2024.

Note: Amounts to be deducted should be indicated with a minus sign.

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