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

Account Title		Debits			Credits
Cash	$	31,000
Accounts receivable		68,000
Inventory		93,000
Interest payable				$	16,000
Investment in equity securities		56,000
Land		132,000
Buildings		330,000
Accumulated depreciationbuildings					106,000
Equipment		87,000
Accumulated depreciationequipment					31,000
Copyright (net)		18,000
Prepaid expenses (next 12 months)		38,000
Accounts payable					71,000
Deferred revenue (next 12 months)					26,000
Notes payable					280,000
Allowance for uncollectible accounts					6,000
Common stock					260,000
Retained earnings					57,000
Totals	$	853,000		$	853,000

The $132,000 balance in the land account consists of $106,000 for the cost of land where the plant and office buildings are located. The remaining $26,000 represents the cost of land being held for speculation.

The $56,000 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.

The notes payable account consists of a $112,000 note due in six months and a $168,000 note due in three annual installments of $56,000 each, with the first payment due in August of 2022.

Required: Prepare 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.)