1. | The investment account includes an investment in common stock of another corporation of $44,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year. | 2. | The land account includes land which cost $39,000 that the company has not used and is currently listed for sale. | 3. | The cash account includes $29,000 restricted in a fund to pay bonds payable that mature in 2019 and $37,000 set aside in a three-month Treasury bill. | 4. | The notes payable account consists of the following: | | a. | a $44,000 note due in six months. | | b. | a $64,000 note due in six years. | | c. | a $64,000 note due in five annual installments of $12,800 each, with the next installment due February 15, 2017. | 5. | The $74,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $9,000. | 6. | The common stock account represents 114,000 shares of no par value common stock issued and outstanding. The corporation has 700,000 shares authorized. | | | Prepare a classified balance sheet for the Almway Corporation at December 31, 2016. (Amounts to be deducted should be indicated by a minus sign.) | |