The following accounts are taken from the general ledger of Spice Corp. on December 31, its annual year-end. Debit Balance Accounts Credit Balance Accounts Cash $12,000 Mortgage payable (long term) $32,400 Accounts receivable 22,200 Accounts payable 33,600 Short-term investment (cost which approximates market) Inventory 24,000 Dividends (cash) payable (payable March 1 of next year) 21,000 Deferred revenue 6,000 1,800 Franchise (used in operations) Total debits Prepaid expense (current) Bond sinking fund (to pay bonds at maturity) Advances to suppliers (current) Cash dividends (declared during the year) Supplies Investment in stock (at fair value) Unamortized discount on bonds payable" Note receivable (long-term) Land (building site in use) Building Equipment 2,400 Accumulated depreciation, equipment 6,000 Allowance for doubtful accounts, 1,200 Bonds payable (matures in 5 years) 13,200 Common stock 2,400 Preferred stock** 15,000 Additional paid-in capital-preferred stock 18,000 Retained earnings, December 31, prior year 270,000 Net income for the year 72,000 Total credits 9,600 $510,600 600 Interest payable 2,400 21,000 Accumulated depreciation, building 126,000 12.000 1,2001 61,200 120,000 48,000 9,600 3.600 52.800 $510,600 *Common stock, par $2.40, 50,000 shares issued and outstanding **Preferred stock, par $6.00, 8,000 shares issued and outstanding Required a. Prepare a classified balance sheet. un rinnr with any of your answers.