The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation.

Cash $ 44,000

Accounts receivable 94,000

Inventory 119,000

Interest payable $ 29,000

Investment in equity securities 82,000

Land 158,000

Buildings 395,000

Accumulated depreciationbuildings 119,000

Equipment 113,000

Accumulated depreciationequipment 44,000

Copyright (net) 31,000

Prepaid expenses (next 12 months) 51,000

Accounts payable 84,000

Deferred revenue (next 12 months) 39,000

Notes payable 345,000

Allowance for uncollectible accounts 6,000

Common stock 390,000

Retained earnings 31,000

Additional Information:

1.The $158,000 balance in the land account consists of $119,000 for the cost of land where the plant and office buildings are located. The remaining $39,000 represents the cost of land being held for speculation.

2.The $82,000 balance in the investment in equity securities account represents an investment in the common stock of another corporation. Valley intends to sell one-half of the stock within the next year.

3.The notes payable account consists of a $138,000 note due in six months and a $207,000 note due in three annual installments of $69,000 each, with the first payment due in August of 2022.

Please make a classified balance sheet for the Valley Pump Corporation at December 31, 2021.Use the additional information to help determine appropriate classifications and account balances. (Amounts to be deducted should be indicated by a minus sign.)